On August 24, 2009
Should Bank CEOs Direct Employees to Scuttle Consumer Protection Agency?
It’s no secret that the American Bankers Association wants to torpedo the proposed Consumer Financial Protection Agency. Now the group also wants bank leaders to dragoon employees into opposing it. Says the ABA, the industry’s leading trade organization, in an August 21 entry in the “What’s News” section of its Web sit (the item has since been taken down): The administration will make passage of legislation to create a Consumer Financial Protection Agency a priority when Congress returns from its August recess. For that reason, ABA continues to urge bank CEOs to ask their employees to send letters to members of Congress opposing the creation of the consumer agency. With Congress re-opening for business in September, the fight over the…
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