Ex-Fed Governor Tarullo Warns of CFPB, Capital Changes

The transcript discusses the Treasury Department's deregulation paper, highlighting both beneficial and debatable ideas. It raises concerns about efforts to weaken the Consumer Financial Protection Bureau and reduce capital levels of large banks. The speaker emphasizes the need for higher capital levels to ensure financial system safety, especially for the largest banks.

What is one of the positive ideas mentioned in the Treasury Department's paper on deregulation?

• Reducing capital levels for large banks

• Increasing taxes on financial institutions

• Helping smaller banks

• Weakening the CFPB

What is one of the main concerns regarding the proposed deregulation?

• Reducing the capital levels of large banks

• Raising taxes on consumers

• Increasing the number of small banks

• Strengthening the CFPB

What does the speaker hope people will remember about past consumer issues?

• The introduction of cryptocurrency

• The financial crisis of 2008

• The consumer issues from 2001 to 2000

• The rise of digital banking

What does the speaker suggest about capital levels for the largest banks?

• They should be slightly higher

• They should remain the same

• They should be reduced significantly

• They should be eliminated

What flexibility does the speaker suggest for smaller and regional banks?

• Merging with larger banks

• Increasing their capital levels

• Reducing their lending capabilities

• Dialing down some regulations