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News Link • Corruption

Bank Lobbyists Are Not Only Trying to Kill NEW Legislation, They Are Trying to Weaken EXISTING Regul

• Zero Hedge
 An amendment by Bean would prevent states from doing so and a vote could come as early as Thursday...

Bean is the co-chair of the pro-business New Democrat Coalition's financial services task forced and vies for the title of Wall Street's favorite Democrat. Bean and other New Dems are tussling with committee progressives over federal preemption. If Bean's measure carries, states would not be allowed to enforce consumer protection laws on national banks that are stronger than those at the federal level. All banks would need to do, then, is water down regulation at the top, rather than in each state legislature...

Only in her third congressional term, Bean has already taken more than two million dollars from the finance, insurance and real estate industries...

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