Time To Prepare For California's New Consumer Finance Law

By Eric Grover and Scot Bernstein (December 17, 2020, 4:29 PM EST) -- The most intelligent person one co-author of this article has ever known said early in the 1960s that 1929 would happen again because people refuse to remember the lessons of the past. After thinking for a moment, he added, "it takes about 70 years."

Fast-forward 70 years and two weeks from Black Tuesday: As if on cue, Congress repealed the Glass-Steagall Act.

That was after three major securities law rollbacks in the preceding four years: the Private Securities Litigation Reform Act, the Securities Litigation Uniform Standards Act and the National Securities Markets Improvement Act, all of which weakened financial market and...

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