Small banks hate it, too
July 11, 2009 | Center for Responsible Lending, industry | Comments (0)The Consumer Financial Protection Agency proposal:
Christopher Williston, president and CEO of the Independent Bankers Association of Texas, said he and other lobbyists from Texas and across the country have been asking members of Congress to reject the proposal to create a Consumer Financial Protection Agency to regulate home mortgages, credit cards and other forms of consumer lending.
Williston said he’s not opposed to preventing the unscrupulous practices that led to the meltdown of the financial system. But he said community banks — and their customers — should not be forced to “pay for the sins” of the bigger banks.
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