NACA in the News: Sen. Pat Toomey expected to play key role in reducing banking regulations

Release Date: 
February 13, 2017
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The Allentown Morning Call, Sen. Pat Toomey expected to play key role in reducing banking regulations

""Weakening them [regulations] while simultaneously allowing banks to engage in more speculative lending practices, which Republicans in Congress have proposed, would be a mistake, said Ira Rheingold, executive director of the National Association of Consumer Advocates.

"All that put together creates a risk to consumers, if those banks fail and they don't have the backup assets that are required, that could lead to some pretty big problems," Rheingold said. "Banks could fail and we might end up as taxpayers bailing them out again.""