Warren Calls For Big Bank Breakup, CFPB Oversight Of Auto Loans

Sen. Elizabeth Warren on Wednesday called for the country's largest banks to be broken up and for the Consumer Financial Protection Bureau to regulate auto loans. On big banks, Warren said the fact that the Federal Reserve and the Federal Deposit Insurance Corp. say 11 banks threaten the entire U.S. economy means they are too big, and that banks should be split up either along size or business lines. On autos, the Massachusetts Democrat said many of the practices in this area are resembling those in the housing market before the crisis. She also said interest deductability should be limited depending on how well capitalized banks are.