Edmund “Busted” Andrews has some details on the Consumer Protection Agency:
NYT: The Obama administration sent Congress a detailed proposal on Tuesday to create a consumer protection agency responsible for financial products, a move that is the first shot in a heated battle with banks and other financial institutions over how to regulate home mortgages, credit cards and other forms of lending.
For their part, banks and mortgage lenders are placing top priority on killing the proposal.
The article doesn’t back up that claim that banks and mortgage lenders have made killing the agency their “top” priority.
Perhaps that’s the submerged resentment bubbling up…
Business Insider Emails & Alerts
Site highlights each day to your inbox.