… you see the institution’s saying, "Wait! We have to stay in this business line. This is our margin of profit. If you don’t let us stay in this business line, we’re not going to be profitable." That’s a very tough choice. That’s a very tough position for a regulator. – Adam Levitin
And especially if that "business" involves ripping off their customers, it would seem. Over at Doom’s under-construction VI Echo transcript, Professor Levitin’s presentation makes the case for a new "CFPA" agency which would focus on actually protecting consumers. He’s followed on the program by American Bankers Association top gun Wayne Abernathy who, in the early going at least, seems to be striving to de-focus that focus. Now when I google both names it becomes apparent that the two of them have been going at each other like Kilkenny cats on this issue for months, for example here.1 I’m looking forward to the panel discussion 
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[1]: "Consumer agency could solve problems without substantive new powers, expert suggests", by Darrell Delamaide, FinReg21, August 19, 2009.
