The Senate Banking Committee continues to discuss financial regulation reform. One item on the table is the creation of another independent agency in the executive. At one time it was to be called the Consumer Financial Protection Agency, but the banking lobby was put off by the proposal.
Now it is to be called the Bureau of Financial Protection. It will not be a stand alone agency like the Consumer Agency was to be, but will exist within the Treasury Department and is to "supervise mortgages, credit cards and other financial products."
My 2302's should take note since we have been discussing the growth of the executive branch. Agencies are developed piecemeal to respond to various crises as they happen. Here's an example.
Related stories:
- Frank Luntz Pens Memo To Kill Financial Regulatory Reform
- Financial Regulatory Reform News - The New York Times
- United States - Department of The Treasury - Keeping the Economy ...
- Regulatory Reform - FinancialStability.gov US Department of the ...
