Last November, when Judge Rakoff rejected a negotiated settlement between the Securities and Exchange Commission and Citigroup, it captured the attention of the public and really focused us, in Congress, on just how frequently our financial regulators enter into 'neither admit nor deny' settlements with the firms they regulate.
Waters highlights the public's concern over SEC settlements without admissions of wrongdoing.
Share & report
More from Russell Waters
As bank mergers continue to be rubber stamped by regulators, people across America pay the price through higher junk fees and predatory actions.
I am very pleased with President Biden's initiative to eliminate junk fees, as well as all the hard work of the Consumer Financial Protection Bureau under the leadership of Director Chopra to do their part in this initiative.
Other voices in this conversation
