Ryan Tracy
speaker
141 appearances
3 recordings
1 series
first heard Jun 2018
last heard Nov 2018
Ryan Tracy’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · House Democrats Can Rein in Banks, But Not Deregulation · 9 Nov 2018
podcast
We've got a situation where the
Democrats are going to control the House Financial Services Committee, which is the primary committee overseeing Wall Street and its regulators.
And the Republicans are going to control the Senate Banking Committee.
And there's likely to be limited areas where they can agree on legislation.
And if Congress isn't going to pass new laws, the laws that are already in place are going to govern what regulators can do.
And Congress has already delegated to regulators a lot of authority to write the rules of the road for banks and
for insurance companies, for credit cards, and a whole host of other issues.
So we expect gridlock, and therefore we expect the status quo to continue, which means the regulators hold the pen.
Yes, they'll certainly give it a shot.
For example, there are rules on payday lending that have been quite controversial recently.
out of the Consumer Financial Protection Bureau.
Democrats are very concerned about the Republican leader of that regulator and his efforts to roll back those rules.
And so they'll certainly hold hearings.
They will possibly even subpoena him to try to find records about what he's doing that they can use to try to throw a roadblocks in the way of the individual leading that agency.
But at the end of the day, unless they pass legislation, they won't be able to stop the
changing those rules, and they can't pass legislation without Republicans in the Senate coming along.
That's right.
She's the likely chair of the House Financial Services Committee.
She's been around a long time, since the early 1990s, representing the Los Angeles area.
And she is a liberal Democrat.
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