The governors want more regulatory power as federal oversight slips; U.S. and European banks dropped sharply Monday as coronavirus-related problems multiply.
In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.
On one hand, banks could face regulatory pressure to restrict services to the firearms industry. But banks that take a strong stand also risk the wrath of GOP lawmakers opposed to such restrictions.
