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CFPB needs to be empowered
“My view is that Washington and the regulators are there to serve the banks” — Republican Rep. Spencer Bachus, chairman of the House Financial Services Committee.
You might expect the above statement from the CEO of a Wall Street bank or chairman of a Fortune 500 investment firm. The fact that it came from the chairman of the congressional committee charged with protecting the public interest by regulating the financial services industry is troubling.