OVERHAUL WITH BIG BANG
Other states are considering similar moves to prevent the financial disenfranchisement of the poor, the young and the aged. “For deregulation to work for consumers they have to be given the right informational tools to make educated decisions. And this hasn’t happened. Disclosure is quite inadequate. No doubt it would require reregulation to clear up these problems,” said a lobbyist for the US Public Interest Research Group.
It used to be argued that, with the abolition of interest rate ceilings, the US savings rate, one of the lowest in the industrialized world, was sure to increase.
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