Financial reg-reform bill under fire

APTOPIX Financial OverhaulFinancial institutions and their allies are gearing up their lobbying effort to weaken Senator Dodd’s proposed financial regulatory reform bill.  Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former counsel to the Fed Board of Governors, says the proposed creation of a separate consumer-protection group within the Fed could be made even stronger.

“The better course is to designate by statute one of the seven Federal Reserve governors as the ‘Consumer Affairs Governor’ and charge that person with clear responsibility for ensuring that the many consumer statutes the Fed has responsibility for are aggressively enforced.”

Contact Cornelius Hurley, 617-353-5427, ckhurley@bu.edu

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