Rep. Hensarling: Banks ‘Ought To Trump’ Consumers

Today, during markup of legislation before the House Financial Services Committee that would create a Consumer Financial Protection Agency (CFPA), Republicans proposed an amendment that would give all of the other federal bank regulators — including the Federal Reserve or the Comptroller of the Currency — the ability to veto CFPA rules that threatened the “safety and soundness” of financial institutions. Rep. Jeb Hensarling (R-TX) explained that he supported the amendment because the healt