McConnell’s Argument Against Financial Regulatory Reform

This morning, Senate Minority Leader Mitch McConnell (Ky.) spoke out against the financial regulatory reform bill expected to come up for a Senate vote sometime at the end of the month. The central gist of the argument is that the bill puts the taxpayers on the hook for future More…

Attend a Consumer Advisory Council Meeting – See for Yourself

The Consumer Advisory Council meets this Thursday in Washington — and the goings-on are open to the public. If you register online by today, you can attend.

You might get a feel for how consumer protection would be handled under the Fed.

During the Boom, Greenspan Never Attended His Own Consumer Advisory Council’s Meetings

By the way, if you’re going through the transcripts of the Consumer Advisory Council, you’ll see that Fed Chairman Ben Bernanke attends the meetings, which are held three times a year in Washington, D.C.

We were curious: During the boom, did former Fed Chairman Alan Greenspan ever go to More…

Fed’s Consumer Advisory Council Warned of Doomsday Scenario

Here’s an interesting look at the inner workings of the Consumer Advisory Council, which is supposed to advise the Federal Reserve on consumer protection issues, including the Credit Card Reform Act. Page 35 of this link (pdf), from public transcripts of the council’s October 2009 meeting, shows More…

Worried About Housing a Consumer Agency at the Fed? Check Out the CAC’s Record

If you want to know why some consumer advocates and others are concerned about current financial regulatory reform proposals to house a Consumer Financial Protection Agency within the Federal Reserve, look no further than the experience of the Fed’s own Consumer Advisory Council.

The Council, which has generally drawn little More…

Quick Senate Markup of Financial Reforms?

It’s looking that way.

Observers had expected a drawn-out battle over Senate Democrats’ plans to overhaul the nations financial regulations in favor of more oversight and consumer protection. The Senate bill is being marked up in the Banking Committee beginning at 5 p.m. today.

But sources on and off Capitol More…

Dodd (Alone) to Unveil Financial Reform Bill Monday

The head of the Senate Banking Committee, Connecticut Democrat Chris Dodd, announced this morning that a long-awaited proposal to install sweeping new oversight of the finance industry will be unveiled Monday.

Okay, maybe it’s not so sweeping.

Obama to Drop Push for Consumer Financial Protection Agency?

So says The Washington Post, reporting this morning that, for the sake of passing banking reforms this year, the White House is willing to drop its insistence on a stand-alone consumer protection agency — an idea championed by a number of consumer advocates, including Elizabeth Warren, More…

Corker: Forget the Consumer Financial Protection Agency

Bad news for consumer advocates who experienced a flutter of hope this week when Sen. Chris Dodd (D-Conn.) swapped Sen. Richard Shelby (R-Ala.) — an opponent of creating a consumer financial protection agency — for Sen. Bob Corker (R-Tenn.) at the finance reform negotiation table: Corker More…

Gibbs: Consumer Financial Protection Agency Still ‘Great Priority’ of White House

Robert Gibbs, White House press secretary, was asked today whether the administration will insist on the creation of a separate consumer financial protection agency as part of the year’s plans for banking reform. His response should encourage the consumer advocates pushing for that agency.

The president still believes

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