Big bank lobbyists have been putting on a full-court press in Washington, D.C. to roll back components of the financial overhaul passed last year and free Wall Street to go back to the “business as usual” that led to the financial crisis in 2008.
The bankers are gunning for the new Consumer Protection Bureau and its leading champion, Elizabeth Warren. They’re lobbying to starve regulatory agencies of the funds needed to enforce the provisions of the new law. And on Wednesday, they went after small businesses with an amendment to delay (read, kill) new rules limiting debit swipe fees. But this time, the bankers lost. Continue reading