The U.S. committee tasked with overseeing the financial sector on Thursday “dispelled any doubt of their intent to do the bidding of the financial industries over the interests of everyday families,” said a government watchdog group as the panel signaled it will significantly scale back its efforts to push for consumer protections on Wall Street.
House Financial Services Committee (HFSC) Chair Patrick McHenry (R-N.C.) announced the new Republican subcommittee chairmanships, with new panels including the Subcommittee on Financial Institutions and Monetary Policy—tasked with overseeing the Consumer Financial Protection Bureau (CFPB)—and the Subcommittee on Digital Assets, Financial Technology, and Inclusion, headed by pro-cryptocurrency Rep. French Hill (R-Ark.).
Gone from the list were the former Diversity and Inclusion Subcommittee and all references in the panels’ descriptions to “consumer protection,” “investor protection,” and “community development.”
The Republicans now in control of the HFSC “never met a consumer protection effort they liked and have been […]
No politicians should be able to recieve ANY money from ANY corporations or ANY rich donors. That is not the way a REAL Democracy should be run! Every American should understand how this system is overrun by greedy corporations and greedy people. There is no acceptable reason for this to be alllowed!