Lewis Kaden’s 5 Pros, 5 Cons
On Financial Reform

Citigroup vice chairman Lewis B. Kaden gives his view of five positive contributions from financial reform proposals under development in the U.S. and in Europe and five areas that require “a great deal of further study.’’

POSITIVE #3. Creation of a Consumer Protection Service.

While acknowledging that this view “is not one universally shared within the industry in the United States,’’ the creation of the Consumer Financial Services Protection Agency is a positive. Poor practices and poor service of consumer interests in mortgages by the unregulated part of the industry wound up infecting “the strongest and best institutions.”


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