Friday, November 11, 2016

CFPB to become toothless?

I am wondering if Consumer Financial Protection Bureau (CFPB), the crown jewel of Elizabeth Warren's achievement, will be reformed into toothless SEC like commissioner structure, now that Republicans have both the House and Senate, and the Presidency. Bank stock index rose more than 2% yesterday, which maybe informed by the change of political regulatory environment. The working whites who worked so hard to elect their president may wake up to find the law designed to protect them water down. Wall Street is just too smart and the less fortunate brothers and sisters stand little chance to win. Either way you move Wall Street has a plan to get you.

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