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Banks Find Consumer Protection Too Big to Fail With Congress

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SCORE ONE FOR THE LITTLE GUY, AND BY "LITTLE GUY" WE REALLY MEAN BANKS
An idea that the U.S. banking industry has learned to hate moved a giant step closer to reality, says Bloomberg, as the creation of a consumer protection agency is now part of the Obama administration’s plans to enact the most wide-ranging financial regulations since the Great Depression. “The administration’s proposal would hurt banks that never made a subprime loan, and yet you’re going to pile a whole new set of regulations and a new regulator on them,” says ABA President Edward Yingling," according to Bloomberg. 
SOURCE:   Bloomberg

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