Wall Street financial firms -- investment banks, banks, investment management firms, hedge funds -- have been fairly united in opposing and actively lobbying to weaken the new Consumer Financial Protection Board.
But at least one leader in the industry, John C. Bogle, founder and former chairman of The Vanguard Group, make the case not only for a strong CFPB, but for the aggressive prosecution and even jailing of some of the bankers he says were committing “an outrage to our society.”
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