The U.S. Chamber of Commerce has launched their attack site on the Consumer Financial Protection Agency (CFPA), and it looks the tried and trusted bureaucracy assault the public has become accustomed to.
They also have a two page document detailing their less ambitious Consumer Financial Protection Council, which would bring in the Federal Trade Commission Chairman as chair, bank regulators as members, and some state level members. It would then report to the Secretary of the Treasury and Congress on issues of regulation. Oh, and it would build a website and staff a 800 number.
Dodd’s bill is 1336 pages. Sen. Dodd’s bill creates 9 new Federal agencies, one of which is the Consumer Financial Protection Agency, which can take action, rather than just advise.
The site has several videos talking about how new regulations will hurt small businesses.
Business Insider Emails & Alerts
Site highlights each day to your inbox.