Pushing Back


enforcement as he took companies to court to establish practices within an industry, not going through the legal rulemaking process. I have no doubt he would be just as bad for the country at the Federal Reserve as he was at the CFPB.


For those of you not familiar with CFPB Director Rohit Chopra, you should be. He wants to return to the Cordray- era tactics of regulation through enforcement and intimidation of the financial services industry. He recently attempted to usurp the authority of the Federal Deposit Insurance Corporation chairman and dictate the policies of both agencies. Tis is not hyperbole. On Dec. 9, Chopra attempted to circumvent the FDIC leadership and announced the bureau would be launching a review of bank merger policy without the


consent of FDIC Chairman Jelena McWilliams. Te FDIC promptly denounced this unprecedented statement. Tis blatant disregard for another agency’s authority and overstep makes me fearful for what else is to come.


While this is not the cheery year-end wrap-up I have been glad to deliver in previous years, it is the reality of operations in Washington, D.C. I assure you I will continue fighting bad policies and overregulation so you can continue doing your jobs and helping keep our local economies running smoothly. Missouri and our communities couldn’t do it without you.


Congressman Blaine Luetkemeyer represents the Third Congressional District of Missouri. He serves on the House Financial Services Committee, as ranking member of the Subcommittee on Consumer Protection and Financial Institutions and ranking member of the House Committee on Small Business.


THE MISSOURI BANKER 13


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