Government out of control
Minnesota Bankers Association (MBA) staff attorney Craig Foss noted that during the 11-day period from Jan. 10 to Jan. 20, the new Consumer Financial Protection Bureau (CFPB) issued 3,266 pages of final and proposed regulations and guidance documents. What an absolutely shocking number.
Every bank will be forced to deal with these new rules.
The CFPB is reported to have an average salary for their employees exceeding $100,000.