The Consumer Financial Protection Bureau created after the 2008 financial crisis just fined Wells Fargo millions of dollars for creating unauthorized accounts for 1.5 million customers, but Republicans in Congress want to strip it of its powers. Listen to CQ Roll Call’s Financial Services reporter Doug Sword and Managing Editor Adriel Bettelheim explain why.
Show Notes:
- CFPB a Secret to One Secret Service Agent
- Wall Street Eyes Dodd-Frank Changes in Spending Bill
- Consumer Bureau Gets a Leader, and Dodd-Frank Gets an Enforcer
Rep. Bruce Poliquin, R-Maine, was the only Republican to join Democrats in opposing HR 5983, a 500-page replacement of Dodd-Frank.
— Doug Sword (@doug_sword) September 13, 2016
“This was a staggering fraud”: Elizabeth Warren calls on Wells Fargo CEO to testify on fake bank account scandal https://t.co/jOVC6U4JJe
— CNN (@CNN) September 12, 2016
Wrong, @SpeakerRyan. #CFPB IS protecting working ppl. Returned $11+ billion to 25 million victims of bad lending. pic.twitter.com/0HomoEwvD6
— Richard L. Trumka (@RichardTrumka) September 14, 2016
Wells Fargo case is a loud, serious warning to banks, CFPB says https://t.co/052dytFYgG
— CNBC (@CNBC) September 12, 2016
