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Financial Reform Gives State Attorneys General New ?Kick Butt? Powers ?CJ&D Interns Discuss!

By Joe Consumer

One of the financial reform stories not receiving all that much attention (except, we imagine, at U.S. Chamber of Commerce headquarters) is the grant of new authority to state Attorneys General to enforce parts of the new financial protection law.  (House Report 111-517, Section 1042 of the bill.) 

Of course, what Congress giveth, it also sometimes taketh away, adding, ?Except as permitted under subparagraph(B), the attorney general (or equivalent thereof) of any State may not bring a civil action in the name of such State against a national bank or Federal savings association to enforce a provision of this title.?  And so on.)

But generally, the new enforcement powers are a great thing, and AGs think so too.   And we?re lucky to have anything, given that Sen. Tom Carper (D-DE) originally tried to wipe out these AG powers altogether.

Today, the Center for Justice & Democracy?s three summer interns talk about this whole deal ? and more- with CJ&D?s Communications Director Alicia Young.  The interns are working on a groundbreaking new study examining federal consumer protection laws that grant state AGs enforcement power. They also discuss the importance of private counsel to aide the work of AG offices.  Check it out!

(Photo, L to R: Allie Curreri, Alicia Young, Warren Allen, Jacob Agron)

Full post as published by ThePopTort on July 16, 2010 (boomark / email).