Published on November 3, 2009 | by LawNews
Prof. Norman Silber Writes Huffinton Post Op-Ed ‘News Flash: Lenders Prefer Fragmented Regulation of the Consumer Financial Marketplace’
On Monday, November 2, 2009, Professor Norman I. Silber and Professor Jeff Sovern, St. John’s University Law School, had their op-ed “News Flash: Lenders Prefer Fragmented Regulation of the Consumer Financial Marketplace” featured in The Huffington Post.
Now that the House Financial Services Committee has passed the Consumer Financial Protection Agency, the American Bankers Association has stepped up its efforts to weaken the legislation or defeat it entirely. The Chamber of Commerce has also embarked on a multi-million dollar campaign with an “inside-the-beltway push” and a “grassroots mobilization” nationwide. And Congressional Republicans have joined in, complaining that the “sweeping authority” exercised by the dreaded CFPA will “impede innovation and kill jobs.”