The Murky Future of Financial Regulations and Consumer Protections
February 23, 2017•8 min
Many Republicans in Congress have spent years fighting to roll back or abolish the Dodd-Frank Act, enacted after the 2008 recession to rein in risky behavior in the financial industry and to end "too big to fail."
Now that President Donald Trump is in charge, those opposed to the law are acting.
Among the most reviled parts of Dodd-Frank was the creation of the Consumer Financial Protection Bureau or CFPB. Republican senator David Perdue from Georgia and Representative Jeb Hensarling have gone as far as calling it a rogue agency at odds with the very meaning of America. Last week, Texas Senator Ted Cruz introduced a bill to eliminate the CFPB.
This week on Money Talking, Charlie Herman takes a look at the future of financial regulations and the CFPB with Gillian B. White, senior associate editor at The Atlantic.