US Bancorp’s Davis Warns Against Overreaction to Consumer Bureau
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Richard K. Davis, chairman and chief executive officer of US Bancorp, said banks shouldn’t “overreact” to the creation of the U.S. Consumer Financial Protection Bureau, or worry about its effect on business.
“It is just simply timely and topical because it’s new and we haven’t had it before,” Davis said today at a conference of the Consumer Bankers Association in Orlando, Florida. “But don’t think it’s going to be that harmful.”