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House Republicans Are Trying To Slip Bank Deregulation Into Highway Bill

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I can't say I'm surprised.

House Republicans Are Trying To Slip Bank Deregulation Into Highway Bill

House Republicans are angling to slip two pieces of bank deregulation into a major highway funding bill that is expected to pass with broad bipartisan support. According to a source familiar with discussions, Republicans are trying to remove tighter regulations that were imposed on banks with at least $50 billion in assets after the 2008 financial crisis. They also are aiming to weaken the Consumer Financial Protection Bureau -- a brainchild of Sen. Elizabeth Warren (D-Mass.), which has worked to prevent big banks, payday lenders and other financial firms from ripping off households.
 
I can't say I'm surprised.

House Republicans Are Trying To Slip Bank Deregulation Into Highway Bill

House Republicans are angling to slip two pieces of bank deregulation into a major highway funding bill that is expected to pass with broad bipartisan support. According to a source familiar with discussions, Republicans are trying to remove tighter regulations that were imposed on banks with at least $50 billion in assets after the 2008 financial crisis. They also are aiming to weaken the Consumer Financial Protection Bureau -- a brainchild of Sen. Elizabeth Warren (D-Mass.), which has worked to prevent big banks, payday lenders and other financial firms from ripping off households.

So you are falling for that bull****, ay?

Republicans snuck it into that bill because it has broad support, and Democrats are SUCH STOOPID IDIOTS!!! that they don't know that. So they'll vote for it anyway.

Well, you could be right.
 
I can't say I'm surprised.

House Republicans Are Trying To Slip Bank Deregulation Into Highway Bill

House Republicans are angling to slip two pieces of bank deregulation into a major highway funding bill that is expected to pass with broad bipartisan support. According to a source familiar with discussions, Republicans are trying to remove tighter regulations that were imposed on banks with at least $50 billion in assets after the 2008 financial crisis. They also are aiming to weaken the Consumer Financial Protection Bureau -- a brainchild of Sen. Elizabeth Warren (D-Mass.), which has worked to prevent big banks, payday lenders and other financial firms from ripping off households.

Odd place to put it. But good regulation is better than a lot of regulation. And the US banking sector certainly has a pound of laws.
 
So you are falling for that bull****, ay?

Republicans snuck it into that bill because it has broad support, and Democrats are SUCH STOOPID IDIOTS!!! that they don't know that. So they'll vote for it anyway.

Well, you could be right.

Don't call them idiots. Some of my best friends are Democrats.
 
Uh, yeah. Those evil Republicans! They have the audacity to want to head up the CFPB with a bipartisan committee! How dare they!
 
I can't say I'm surprised.

House Republicans Are Trying To Slip Bank Deregulation Into Highway Bill

House Republicans are angling to slip two pieces of bank deregulation into a major highway funding bill that is expected to pass with broad bipartisan support. According to a source familiar with discussions, Republicans are trying to remove tighter regulations that were imposed on banks with at least $50 billion in assets after the 2008 financial crisis. They also are aiming to weaken the Consumer Financial Protection Bureau -- a brainchild of Sen. Elizabeth Warren (D-Mass.), which has worked to prevent big banks, payday lenders and other financial firms from ripping off households.

the original intent of the CFPB was good....i had no complaints

but just like every other government agency, they have now started taking things too far

For anyone that has read many of my postings, i am in the retail car business....and have been for 30+ years

Most of you have probably bought a car or two from dealers in your lifetime....some probably more than a few

Most dealers really try to do the right things....keep customers happy, and keep them coming back

Without repeat customers, we really are screwed....

Without getting into too much detail, and the nuts and bolts of how things works, dealers "spot" cars to customers

That means we dont have your financing in place MOST of the time as you leave the showroom.....

Based on our experience, our knowledge of the lenders, and your credit history, we THINK we can do xyz and contract you that way

At my place, that original contract is upheld over 92% of the time.....

Once in a while we think bank "a" will do the deal, and it turns out only bank "c" will take the terms we gave you

So for a little less than 8% of our customers, we have to resign the contracts with the customers

Exact same term, rate, down payment, etc.....just a different bank

The CFPB wants to discontinue this practice called spotting....

They want you the customer to have to come back 2-3 days later when we have an actual approval, and then take delivery and sign

Now think about the times you have purchased a car.....how many times has it been that you really didnt think you were going to buy that day?

We deal in emotion....we sell the experience of driving that car home today

This change will radically change our business model....and will be BAD for business
 
Oh course by doing so they have our best interest in mind...............

If you can believe that........I'll tell you another:roll:
 
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