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Released: July 21, 2011

Meet Holly Petraeus: Servicemembers’ advocate at the CFPB

Source: Loren Berlin, Daily Finance (Free Registration)

Sometimes, catastrophes can lead to changes that better protect us -- and by "us," I mean the residents of Main Street -- average Americans whose voices often get lost among the lobbyists and corporate interests. For example, in response to the Great Depression, Congress in the 1930s created the Federal Deposit Insurance Corporation to regulate financial institutions and insure most of our bank deposits. Similarly, after the devastation of World War II, global powers established the United Nations to facilitate cooperation among, and maintain peace between, countries. This week, America is witnessing the genesis of another agency born out of disaster and designed to protect us: the Consumer Financial Protection Bureau. Crafted by the Obama administration as part of the president's larger plan to reform Wall Street after the 2008 financial meltdown, the agency's purpose is to help consumers avoid being taken advantage of.

Read Full Article: Meet Holly Petraeus: Servicemembers’ advocate at the CFPB