Not that quiet
November 17, 2010 | CFPB, alternatives | Comments (0)This article says Wall Street is quietly working to undo financial reform:
Financial lobbyists also are working to soften requirements that Wall Street firms put more “skin in the game” by retaining more mortgage bonds on their books to guard against shoddy lending. They’re also trying to undercut the new Consumer Financial Protection Bureau.
Through Republican lawmakers who will soon hold leadership positions in the House of Representatives, big banks are backing proposals that could lead to its being defunded or subject to conditions that weaken it.
The financial sector is also pushing to have the bureau headed by a board rather than a strong single leader.
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