Tuesday, January 14, 2020

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I’ve asked that our staff look at alternatives to the so-called notice-and-opt out regime that has been the standard for financial data privacy. For example, the longstanding Gramm-Leach-Bliley Act privacy rules don’t give consumers meaningful control over how their data is being used. Starting here will also mean that our jumping-off point is where industry infrastructure for consumer-authorized financial data sharing has already begun to take shape. In an open and competitive market, it is easy for individuals to fire, or walk away from, their financial provider for whatever reason.

Californians are much more pessimistic about the direction of the country than they are about the direction of the state. Solid majorities of adults (62%) and likely voters (71%) say the United States is going in the wrong direction, and majorities have held this view since September 2021. One in three or fewer adults (33%) and likely voters (25%) think the country is going in the right direction. Majorities across all demographic groups and partisan groups, as well as across regions, are pessimistic about the direction of the United States. California voters have now received their mail ballots, and the November 8 general election has entered its final stage. The 2022 midterm election also features a closely divided Congress, with the likelihood that a few races in California may determine which party controls the US House.

Congressional Elections

There are 44 active homes for sale in New London, WI, which spend an average of 58 days on the market. Some of the hottest neighborhoods near New London, WI are Mather Heights, Fort Howard, Olde Norwood, Marquette Park, Colburn. You may also be interested in single family homes and condo/townhomes for sale in popular zip codes like 54956, 54961, or three bedroom homes for sale in neighboring cities, such as Appleton, Oshkosh, Neenah, Menasha, Grand Chute. There are 30 active homes for sale in Three Lakes, WI, which spend an average of 63 days on the market. Some of the hottest neighborhoods near Three Lakes, WI are Mather Heights, Colburn, Marquette Park, Perkins Park, Fort Howard.

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Numerous questions were adapted from national surveys by ABC News/Washington Post, CBS News, NPR/PBS NewsHour/Marist, and the Pew Research Center. Additional details about our methodology can be found at /wp-content/uploads/SurveyMethodology.pdf and are available upon request through The percentages presented in the report tables and in the questionnaire may not add to 100 due to rounding.

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Democratic incumbent Gavin Newsom is ahead of Republican Brian Dahle (55% to 36%) among likely voters, while few say they would not vote, would vote for neither, or don’t know who they would vote for in the governor’s race. The share supporting the reelection of the governor was similar a month ago (58% Newsom, 31% Dahle). Today, Newsom enjoys the support of most Democrats (91%), while most Republicans (86%) support Dahle; Newsom has an edge over Dahle among independent likely voters (47% Newsom, 37% Dahle).

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Under the current regime, nascent firms often find themselves in the position of needing to curry favor with big market players. Today, I want to start off by talking a bit about the CFPB’s new approach to regulation. Then, I will describe what some of the features of a more open and competitive market would look like, along with where individual consumers and new firms will have more leverage and opportunities. I’ll then outline some details about where we are headed, as well as what we are hoping to avoid.

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A competitive market would also lead to unbundling where companies compete on individual products, rather than relying on captive customers or cross-selling scams. When markets aren’t competitive, we feel that we need to buy additional services from a provider we already worked with. Importantly, a more open market will also make sure consumers won’t have to start from scratch. For example, Americans often use their deposit account history as a life ledger – it is a written record that keeps track of payments and deposits, which can be helpful for taxes, for disputes with merchants, or insurers, and for other purposes.

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There are 53 active homes for sale in Presque Isle, WI, which spend an average of 141 days on the market. Some of the hottest neighborhoods near Presque Isle, WI are North Side Hill, Lakeside - Lester Park, Airport, Third Ward, West Riverside. You may also be interested in single family homes and condo/townhomes for sale in popular zip codes like 54557, 49938, or three bedroom homes for sale in neighboring cities, such as Eagle River, Minocqua, Land O Lakes, Mercer, Ironwood. There are 42 active homes for sale in Marion, WI, which spend an average of 43 days on the market. Some of the hottest neighborhoods near Marion, WI are Northwood Park, MacArthur Heights, John Muir Park, Colony Oaks, Downtown Appleton.

Based in Grand Rapids, Michigan, MHVillage Inc. is the nation’s premier online marketplace for buying and selling manufactured homes with more than 25 million unique visitors annually. Last year, more than 80,000 homes were sold on MHVillage with a combined transaction value exceeding $3 billion. Landline interviews were conducted using a computer-generated random sample of telephone numbers that ensured that both listed and unlisted numbers were called. Additionally, we utilized a registration-based sample of landline phone numbers for adults who are registered to vote in California. After a household was reached, an adult respondent was randomly chosen for interviewing using the “last birthday method” to avoid biases in age and gender.

Cell phone interviews were conducted using a computer-generated random sample of cell phone numbers. Additionally, we utilized a registration-based sample of cell phone numbers for adults who are registered to vote in California. After a cell phone user was reached, the interviewer verified that this person was age 18 or older, a resident of California, and in a safe place to continue the survey (e.g., not driving). Cell phone respondents were offered a small reimbursement to help defray the cost of the call. Cell phone interviews were conducted with adults who have cell phone service only and with those who have both cell phone and landline service in the household. Majorities of California adults (53%) and likely voters (52%) approve of the way President Biden is handling his job, while fewer disapprove (43% adults, 47% likely voters).

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“Los Angeles” refers to Los Angeles County, “Inland Empire” refers to Riverside and San Bernardino Counties, and “Orange/San Diego” refers to Orange and San Diego Counties. Residents of other geographic areas are included in the results reported for all adults, registered voters, and likely voters, but sample sizes for these less-populous areas are not large enough to report separately. We also present results for congressional districts currently held by Democrats or Republicans, based on residential zip code and party of the local US House member. We analyze the results of those who live in competitive house districts as determined by the Cook Political Report’s 2022 House Race Ratings updated September 1, 2022.

First, we expect to propose requiring financial institutions offering deposit accounts, credit cards, digital wallets, prepaid cards, and other transaction accounts to set up secure methods, like APIs, for data sharing. Rather than rely on black-box models that people can’t make sense of, lending can move back to real-world data about someone’s ability to pay back a loan. Finally, financial companies can find new ways to underwrite and score with less bias. Today, many companies are now exploring new underwriting models that return to core principles – assessing ability to repay without attempting to use outside information to model a consumer’s presumed ability to repay. Fourth, more switching would lead to greater efforts by firms to maintain or win customer loyalty. If a firm is required to make a person’s financial information available to them, or to a third party acting on the consumer’s behalf, via a secure method, we will be able to mitigate some of the problems that exist today.

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Financial services are an essential part of our economic plumbing, and we will be working to let the market expand and develop new ways to help Americans live their lives to the fullest. There will be many opportunities to provide input to inform the public record throughout the process. There will undoubtedly be similar efforts when it comes to open banking and finance, potentially from Big Tech firms or a consortium of incumbents.

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