Post 2007's run, the Consumer Financial Protection Board was specifically established federally to regulate exactly the area of consumer protection in respect t

Post 2007's run, the Consumer Financial Protection Board was specifically established federally to regulate exactly the area of consumer protection in respect to financial services. Protecting the stability of the banking system, which is inherently unstable (borrowing short, lending long) is a requirement for defending the value of a nation's currency and national debt. Protecting consumers from predatory financial practices is not the same sort of regulatory requirement and shouldn't be regulated by the same people. The CFPB is similar to the FDA, it protects consumers from predatory producers. That's completely different to the Fed/OCC protecting the banking system. For the OCC to say that part of their scope is "providing fair access to financial services" is regulatory overreach and scope creep. There's a reason they're called the Comptroller of the Currency.