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Consumer Bureau Bashed By Banking Insiders, Cato Analyst
Jul 25th 2012, 23:22

Richard Cordray, director of the Consumer Financial Protection Bureau, also testified on Tuesday. Job killer. That's the label one libertarian analyst of the banking industry slapped on the year-old Consumer Financial Protection Bureau at a congressional hearing Tuesday -- a theory quickly dismissed as politically charged by at least one economist. New regulations from the agency, created in the aftermath of the financial crisis to protect consumers from predatory lending and other deceptive practices, have increased the cost of credit, and that translates to about 150,000 fewer jobs, according to Mark Calabria, director of financial regulation studies at the nonprofit Cato Institute....

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