Bowing to political pressure from community bankers, the House Financial Services Committee approved an exemption on Thursday for more than 98 percent of the nation’s banks from oversight by a new agency created to protect consumers from abusive or deceptive credit cards, mortgages and other loans.Democrats are going to regulate the shit out of that 2 percent! To be fair, that 2% represents the largest banks. So who could oppose such weak reforms to an industry that caused the global economy to collapse?
...Republicans are unified against the legislation.Oh. Right. Perhaps Dems could ease up and exempt another 1.99999% of the banks in hopes of getting some moderates on board.