Oh, no. They beat a path to my office everyday. They were very well-represented.
Editor's note · Context
Ellison reflects on the strong representation of financial institutions during his tenure.
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We don't have a CFPB because somebody just thought it would be a great idea. We are here because of a financial crisis.
I think that Representative Foster made a great point. Would it be a good idea to be able to go to the Fed and say, 'Raise interest rates or we are going to cut your budget.'? That is a bad idea.
I am concerned about the overreach of government regulators, as you just expressed, about how they use the discretionary powers that they have to drive down political instruction and decisions.
I think that risk-adjusted factors and considerations are important to advance the best interests of the beneficiaries.





