McClatchy (1/8, Hall) reported, “With the 111th Congress newly seated this week and a new president who promises change coming into office soon, the era of hands-off regulation for a wide number of industries appears to be over.” McClatchy says, “During much of the past decade, the federal government took the word of everyone from investment bankers to oil traders, toy importers to produce growers, that they were taking steps to protect little guys, consumers and ordinary investors.” Now that the Democrats have the majority in the House and Senate, “they’re promising a new era of regulation on behalf of consumers” and “business groups such as the U.S. Chamber of Commerce are bracing for a fight.”
Consumer advocates hopeful under new Congress and Obama. Bloomberg News (1/9, Plungis) reports, “Consumer advocates say the incoming administration of President-elect Barack Obama and a new Congress may be their best chance in years to pursue reforms from credit cards to health care.” Meanwhile, “business lobbyists say the way may have become easier for consumer groups” with the new Democratic majority “but they will work to show the high cost of some proposed rule changes.”
From the American Association of Justice news release.
