You would think that, of all institutions, Big Banking would be glad to see the Consumer Financial Protection Bureau in their rear-view mirror. This was the unaccountable, unconstitutional brainchild of Senator Elizabeth Warren (D-MA). Senator Warren, we might note, on a scale of economics knowledge ranging from AOC (D-NY) at zero to Thomas Sowell (National Treasure) at 100, comes in at 1/1024th.
The CFPB has been sticking their bureaucratic noses into everything the nation’s banking concerns have been doing since they got started. So why would the big banks feel the need to preserve the CFPB today?
For years, American financial companies have fought the Consumer Financial Protection Bureau — the chief U.S. consumer finance watchdog — in the courts and media, portraying the agency as illegitimate and as unfairly targeting industry…
