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GOP preparing plan to gut consumer finance protection bureau

By Gainey Business Bancorp | Thursday, February 9, 2017

A Republican plan to dismantle Wall Street regulations would strip the Consumer Financial Protection Bureau of many of its powers, including eliminating its consumer complaint database and scaling back its enforcement abilities, according to a five-page memo distributed by Rep. Jeb Hensarling, chairman of the powerful House Financial Services Committee.

The memo obtained by The Washington Post offers the first peek into Republican plans to ease regulations big banks have been subject to since 2010’s Dodd-Frank Act.

Read the entire article here

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