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New at Reason: Katherine Mangu-Ward on Girl Scouts and the CFPA
On Friday, the House rewrote the rules governing
banks, investment advisers, lenders, and other major players in the
financial markets. But along the way, they may have managed to
screw a bunch of Girl Scouts out of some additional badges.
Senior Editor Katherine Mangu-Ward explains how a massive new Consumer Financial Protection Agency (CFPA) bureaucracy, charged with regulating "financial advice" of all kinds, may make it illegal for Girl Scouts, Goodwill, and other charities to teach financial literacy.
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