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What You Should Know / December 12, 2009

rep bean new democrat -- The compromise reached late Wednesday between pro-reform House Democrats and the banker-friendly wing of the party could significantly weaken consumer protection in states where lawmakers support tougher rules against tactics such as predatory lending and excessive ATM fees than historically submissive federal regulators. Melissa Bean of Illinois and her fellow members of the New Democrat Coalition -- who have collectively accepted massive amounts of money from the financial services industry since 2008 -- temporarily blocked the landmark financial regulatory reform bill from hitting the House floor on Wednesday.

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  • 1. Dr. Luny  |  December 12th, 2009 at 4:30 pm

    And the bankers win again, well at least we all know what motivates government policy.

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