Stephen F. Lynch

This new banking bill would make consumers pay

This new banking bill would make consumers pay

In Washington, a powerful movement is underway to kill the consumer protections and bank industry regulations that arose from the ashes of the 2008 financial crisis.

Perhaps you haven't heard much about it yet, considering some of the other political dramas and tweets dominating the news from our nation's capital.

But it's time to pay attention.

Last week, the House approved a sweeping financial industry deregulation bill that guts the flawed, but necessary, 2010 Dodd-Frank law — a measure designed to crack down on the big banks and Wall Street's bad behavior.

Backed by aggressive financial services interests including Illinois' two largest banking associations,...