Business and Financial News

House Republicans are trying to kill or cripple the Consumer Financial Protection Bureau before it goes into business. An article in the Nation reports on their attacks on the new agency and Elizabeth Warren, the acting director of the agency.

The banks and finance company are contributing lots of money to the House Republicans who then do their bidding. The Center for Responsive Politics identified 156 groups engaged in such lobbying after the Dodd- Frank Act creating the Bureau was passed while the Chamber of Commerce still has a dozen lobbyists working solely on Bureau matters. The American Bankers Association has only 11 lobbyists.

Prof Elizabeth Warren is a leading candidate to head the new Consumer Financial Protection Agency that Pres Obama signed into law today. She explains how she envisions the new agency will fulfill its duties in an interesting interview on the PBS website.