Senator Proposes Giving Federal Reserve the Task of Consumer Protection

New York Times – In an effort to secure Republican support for an overhaul of financial regulations, the chairman of the Senate Banking Committee on Monday proposed giving the Federal Reserve responsibility for protecting consumers from abusive and deceptive financial products. The new plan, described by an official briefed on the negotiations, was the latest iteration of an idea that has divided members of the committee, largely along party lines, and has been the major barrier in the path toward the most significant overhaul of banking rules since the Depression, a priority of the Obama administration. Read Article

Ed – Not only therefore would the wolves have the keys to the chicken coop, but they would also be appointed gamekeeper too.

Tags: banks, financial system, global elite, North America