But you already knew that. From the Washington Post:
The Consumer Financial Protection Bureau on Thursday sought to bring debt collectors and credit bureaus under its purview, marking the first time the often controversial industries would be subject to federal supervision.
Under its proposed rule, the CFPB would oversee the nation’s largest debt collectors, the primary credit reporting agencies such as Experian, Equifax and TransUnion, and other lesser-known consumer reporting agencies. It is the first attempt by the watchdog agency to define which businesses in the vast swath of nontraditional financial institutions will be subject to the same examination process as banks.
Cursed be the six Republicans who voted for the Dodd–Frank Wall Street Reform and Consumer Protection Act which set up the CFPB.
11:36 am on February 16, 2012
