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GOP Rep. Tells House Finance Committee That Banks Should "Trump" Consumers
Link to The Wonk Room article with more details about the situation: http://wonkroom.thinkprogress.org/2009/10/20/hensarling-trumps-consumers/
Today, during markup of legislation before the House Financial Services Committee that would create a Consumer Financial Protection Agency (CFPA), Republicans proposed an amendment that would give all of the other federal bank regulators — including the Federal Reserve or the Comptroller of the Currency — the ability to veto CFPA rules that threatened the “safety and soundness” of financial institutions.
Rep. Jeb Hensarling (R-TX) explained that he supported the amendment because the health of a financial institution “ought to trump” concerns regarding consumers, all of the time
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