A Regulator Finally Gets It Right: CFPB Hits A Bad Bank Where It Hurts

A Regulator Finally Gets It Right: CFPB Hits A Bad Bank Where It Hurts
WASHINGTON, DC - JUNE 10: Consumer Financial Protection Bureau Director Richard Cordray testifies before the Senate Banking, Housing and Urban Affairs Committee in the Dirksen Senate Office Building on Capitol Hill June 10, 2014 in Washington, DC. Cordray was delivering the CFPB semi-annual report. (Photo by Chip Somodevilla/Getty Images)
WASHINGTON, DC - JUNE 10: Consumer Financial Protection Bureau Director Richard Cordray testifies before the Senate Banking, Housing and Urban Affairs Committee in the Dirksen Senate Office Building on Capitol Hill June 10, 2014 in Washington, DC. Cordray was delivering the CFPB semi-annual report. (Photo by Chip Somodevilla/Getty Images)

After This American Life recently removed the mystery from the New York Federal Reserve’s cozy relationship with Goldman Sachs, multiple writers have offered their take on what financial regulators in America do wrong. But this week, we got an example of a regulator getting something right. If others follow their lead, we could finally get a more stable financial system.

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