your bank how likely you are to this is a big moment because the pay your bills in the future. white house wants to play this so beware, your online postings up as a major campaign promise could cost you if you re not being honest with your lender. kept. we forgot about it because of we talked to a georgia mortgage the financial crisis and health lender who routinely friends care. he hasn t talked about it a loan applicants, and even denied lot. one loan after checking out a at the very beginning of the guy s facebook page. campaign, the thing that lifted take a listen. this one individual had him up against senator clinton posted on there that he was was his opposition to the war in looking forward to becoming a iraq. he promised to get combat troops slum lord or a landlord, and he was buying this home, and the out within 16 months, doing it a couple of months later. home in question that he was commenting on there about being can you square that rhetoric about the violence? a s
[ car door closing ] [ male announcer ] time tot! check your air conditioning? come to meineke now and get a free ac system check. meineke. we have the coolest customers. ler. welcome back to the newsroom. we re watching your money, and so is cnn money.com. just check out the top stories right here, of course. just a few homes ago, president obama signed a sweeping overhaul of the financial system into law. wall street reform. and we re also watching the numbers on wall street coming to you. we see the dow is up 13 points at 10,243. and the nasdaq is down roughly about three points. let s check with our patricia woo, as well. landmark financial reform now law. a lot has been said and written about what it will mean for banks, but it will also have a huge impact on consumers, as well. parish woo now from new york. hi there, patricia. hi, fred. yes, there are some key changes coming that will have an impact
look at this, because patricia has gone a great job of explaining some parts of this, but this is a massive, massive piece of legislation with many, many implications, and some say, patricia, a few imperfections. even the administration said is would liked to be stronger than it is, but didn t get everything they wanted. they needed to compromise to get the votes passed. great to see you, patricia, talk to you later on. patricia woo in new york. be sure to watch your money saturdays and sundays at 3:00 p.m. eastern when we take these issues and break them down further for you. top stories now. the congress unanimous black caucus says agriculture secretary tom vilsack overreacted when he asked shirley sherrod to resign over a video posted on the internet. they re backing her reinstatement. vilsack says he s going to review the case. secretary of state hillary clinton announced new sanctions against north korea today. she is in south korea for meetings. the new sanctions are ai
loans that borrowers can t repay. they ve got to verify and document a brower s income in savings. they also can t steer people into high rate loans when they qualify for lower rates. and it limits penalties for paying off your mortgage early. but of all the changes, experts tell us that the most significant one for you and me is the consumer protection agency. it will be making rules for years to come. and the agency s goal is to make sure that financial products are easier to understand. and a personal finance expert summed it up this way. for the first time in a long time, someone has got a full-time job looking out for us, fred. okay. that could be good news. let s hope it is, right? all right, patricia woo, thanks so much from new york. appreciate that. mississippi kids help rebuild their communities after hurricane katrina. tom foreman takes us to a town coming back from catastrophe. a. she starts at dawn and so does her back pain. that s two pills for a four hour drive. the
want to remind you that you can check the very latest on what s going on financially with the markets, everything. good to cnnmoney.com. complete analysis right there. and let s go now to new york and check what s happening with the dow. you can see the dow there, up 1.29 at this point. still trading above 10,000. and you know what, we have been talking about what s going on with the dow for days now. obviously, really years, because it s really been just amazing to see the fluctuation. but you know what, according to what s happening down here, how is it going to affect the markets? the first relief well-being drilled to stop the oil gusher could be done in seven to ten days. these wells are the best hope for stopping the gulf oil leak. so why not require them to be drilled at the same time as oil exploratory wells? patricia woo is in new york with more on this question. people say valuable time has