Banks May Get Help From a Few Unlikely Sources in Fight Over CFPB's Late Fee Cap

Also, auditors worried more independence missteps could come to light in PCAOB reports; brokerage group cautions SEC on bond market reforms; MFA urges Gensler to resist short selling bans

It’s admittedly hard to keep track of all that is happening in banking right now – on the Hill, in the markets and at the agencies. But we’d be remiss if we didn’t take some time to dig into what’s become a vociferous policy fight over credit card late fees, pitting the industry against its least favorite overseer, the CFPB. 

The consumer watchdog, as mo…