In the last few months, I have noticed many types of apparent “Unintended Consequences” of Federal Government Legislative and Regulatory actions.
Federal regulations governing International wire transfers of funds from the US to other countries are so onerous that many credit unions have decided to stop offering such services to their members.
The upcoming changes to Home Mortgage Lending (currently to be effective in January 2014) may cause lenders to discontinue making such loans to borrowers who may well have qualified for such loans in the past.
Changes to regulations for almost any type of “student loan”, even if only for books and/or tuition for a class at a Community College, are so onerous that many credit unions are not making these types of personal loans.
Finally, as the headlines all show, almost daily in recent weeks, some number of folks with health insurance currently may face adverse (to them) changes in such policies or even their cancellation because of the Affordable care Act (”Obamcare”). For the same reason, many part time employees of companies, organizations and agencies have had their work hours cut below 30 hours per week so that the employers do not have to provide health insurance benefits.