U.S. Republicans prepare consumer watchdog, SEC probes as mid-term elections loom

By Pete Schroeder and Katanga Johnson
WASHINGTON (Reuters) – U.S. Republican lawmakers are preparing a crackdown on the U.S. consumer and securities watchdogs in the expectation they will gain control of a key congressional committee following the November mid-term elections, according to a dozen financial lobbyists, congressional staffers and lawmakers.
With an 80% chance of the House of Representatives flipping to Republican control, according to poll-tracking website FiveThirtyEight.com, Republicans on the House Financial Services Committee are planning probes into the Consumer Financial Protection Bureau (CFPB) and the Securities and Exchange Commission (SEC), the sources said.