The FDIC issued a website correction recently: “The Consumer Financial Protection Bureau (CFPB) posted on its website a document, purportedly approved by the FDIC, requesting comment on bank mergers. No such document has been approved by the FDIC” and “there was no valid vote by the Board” and no such request for public comment “has been approved by the agency for publication in the Federal Register.”
The CFPB tried to commandeer a function of the FDIC! Conflict in the hierarchy is so revealing.
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