Tuesday, 1 September 2009

The CFPA: We're from the government and we're here to protect you *Updated*

Updated: See below

Last week I wrote about the proposed CFPA, yet another agency the government is trying to create in order to "protect" American consumers.

Good to know I am not the only one who thinks this is a bad idea. Ed Lasky over at American Thinker writes:

The choking grip of power is about to grasp the necks of small businessmen. This Act may seem beneficial (the innocuous title no doubt was fashioned to make it seem so). In reality, it is a way to hammer business, both large and small. This type of catch-all Act will extend the sweeping powers of government throughout America. Every time a business, including a small business, extends credit to anyone Big Brother - nettlesome and dictatorial as ever, inefficient, incompetent, and unfair as ever - will be watching. This type of act is an open-ended assault on free enterprise.

Read it all.

Update: A reader from Toronto directed me to this video featuring Todd Zywicki (not to be confused with Sam Witicki), which discusses the CFPA in detail. Even though this legislation is for Americans it will have broader impacts if it passes. It is critical that consumers understand how the CFPA will impact the market and give the government huge control over this industry.

Watch it here.