Congress steps up rate-setting probe

Lawmaker pledges to press bankers, regulators on issue

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In the U.S., there is so much remaining “public cynicism” from the problems on Wall Street a few years ago and the ensuing financial reforms that consumers are no longer surprised by banking scandals, suggested Marcus Stanley, policy director at Americans for Financial Reform.

“I think people open the newspapers these days and say, ‘Oh, the banks are cheating and exploiting the system. What else is new?’” he said. “They are well aware that there are problems in our financial system, so these revelations almost don’t come as a surprise anymore.”

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