While the world waits to see what happens to the leadership and policies of the Consumer Financial Protection Bureau, the head of another federal financial regulator has made it clear that she will be stepping down after President Obama leaves office, even though she could have stayed on in the office for several more years. [More]
mary jo white
SEC Head Wants Companies That Break Laws To Actually Admit They Broke Laws
By 1.2.14
Businesses are in the habit of making amends for their errors without actually admitting they made any errors. Weasel words hide a multitude of sins; “mistakes were made” and “customers were affected.” A company can agree to pay millions of dollars to rectify a mistake or action they do not legally agree to having made. It’s a legal tangle that would be funny if it weren’t tied to so much real-world wrong: “Here’s a billion dollars to fix a crime that we don’t acknowledge we committed.” [More]
