FDIC Standing Up to Obama on Financial Overhaul
August 14, 2009 | Associated Press, federal legislation | Comments (0)Federal Deposit Insurance Corp. Chairman Sheila Bair is pushing back against key pillars of the Obama administration’s financial overhaul plan, saying they wouldn’t survive in Congress and calling her own alternatives more viable.
In an interview with The Associated Press, Bair said Congress won’t approve two major parts of the package: Expanding the Federal Reserve’s authority to regulate the largest financial companies and giving a proposed new consumer protection agency examination and enforcement powers over banks.
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