No it isn’t. Hopkins also takes the torch to it (emphasis mine):

But the argument relies on the idea that the new agency would proactively seek to extend consumer credit, for example, or otherwise push for policy goals like broader homeownership.

The regulatory reform bills in both the House and Senate, however, do not give the consumer agency that kind of mandate. Instead, it is largely designed to curb abusive business practices. Its purview does not include the Community Reinvestment Act, a law designed to ensure banks are lending in their own communities. (CRA rule-writing and enforcement are left to the banking agencies under both bills.)

Too often journalists let that kind of spin go unchecked in a he-said/she-said manner that ultimately does nothing more than help those who push falsehoods and distortions like the banks are doing here. The Banker doesn’t let the bankers get away with that here. That’s how it’s done.

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Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at Follow him on Twitter at @ryanchittum.