Very disappointing news. Elizabeth Warren seems like a good example of one who should have more control in Washington – not less. And … “too much unchecked power”? What good is a watchdog chained to the doghouse?
But, to the best hissy fit go the spoils: So, until further notice, “The agency won’t have power, for instance, to crack down on mortgage brokers, some of which helped lead the nation into the housing debacle four years ago. It also won’t have authority over other largely unregulated sectors of the financial services industry, such as payday lenders and remittance companies such as Western Union, that it was created to police.”
More on Warren – She’s a Bank Bully.
We could use a few more bank bullies! The Consumer Financial Protection Bureau would probably have been a stronger position for her – or any bank bully worth their salt, but in the senate – if she’s not swallowed up – at least she’ll be on sentry duty with Bernie Sanders.