Cfpb, Doddfrank, Reporter discussed on FT Banking Weekly

Automatic TRANSCRIPT

Forsman action enforcement action more than anything else sane dealerships were wrong instead of writing a roll any apply that to a couple of of banks but not every bank he did that through enforcement action would a rule have been better yes would have taken a longer yes but it's better than just singling out four or five institutions and penalising them but everybody else would is the speed on interstate you had to come up with what is the speed on an interstate if you will been uh so that's one of the problems we had with the cfpb also i think richer cordially at times purposely demonized banks through the complaint portal system doddfrank said you had had a complaint puerto system for customers to go to an agency if they had a wrongdoing from an alleged wrongdoing from a bank but to put that out in the public space was wrong unless you verify that information ben i could go to your financial times website and said you're a horrible reporter and that would count against to either no had no basis for that but of course i would have a right to reply in the comments underneath what whatever this person it's it sure but by that time under with cpb did they would tell everybody bank exhead two thousand complaints but not verify so without context it was unnecessarily punitive it was a case since o'chee can just briefly sketch from the direction you'd like to see it with this new structure the cfpb taking well i hope cooler heads prevail in the united states senate you need sixty votes to cut off debate into pass legislation right now they're fifty two republicans and 48 democrats i know ban without any question there are a probusiness commonsensical democrats in the united states senate who want to support the rest of the republican contingency and have a type of commission unfortunately politics is getting in the way people are up for reelection in two thousand and eighteen in for the first time i have seen in my lifetime been in washington.

Coming up next