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News Link • Continental Congress 2009

Bill Shields Most Banks From Review

• NYT
 

The carve-out in legislation overhauling the regulatory system would prevent the new consumer financial protection agency from conducting annual examinations of the lending practices at more than 8,000 of the nation’s 8,200 banks, leaving only the largest banks and other lenders subject to the agency’s examiners.

Earlier in the day, the committee completed its work on a different contentious provision of the legislation when, on a nearly straight party-line vote of 43 to 26, it approved tougher regulations over the derivatives market. That provision, too, contained exemptions for many businesses.

The exemption for the banks was endorsed by the chairman, Representative Barney Frank of Massachusetts

1 Comments in Response to

Comment by Stupid Amerkin
Entered on:

Isn't it obvious by now what thugs and criminals we have running these fraud institutions we call banks? We are going to continue to rip the people off  with the protection and sanctions of the criminal courts. Who the hell are these criminals that are a part of this HFSC cartel?


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