Betsy Costle

ConsumerProtection Image- Betsy
When the Consumer Financial Protection Bureau (CFPB) began operation just over four years ago, consumers were made — for the first time — a priority for federal financial regulators. As chief financial regulator in Vermont from 1992 to 2003, I was often prevented by federal law from protecting the citizens of my state. For instance, I and other state regulators worried about predatory lending well before the financial crisis, but we could take no action against nationally chartered banks, their subsidiaries and others because federal law gave these lenders immunity from state consumer protections.
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