Bowing to political pressure from community bankers, the House Financial Services Committee approved an exemption on Thursday for more than 98 percent of the nation’s banks from oversight by a new agency created to protect consumers from abusive or deceptive credit cards, mortgages and other loans.
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Stephen Labaton - House Panel Exempts Over 8,000 Banks From Oversight - NYTimes.com Regulatory capture is all in my head. Note: At least they didn’t exclude the biggest banks. |
