More Ass Covering by the Fed

Once again, the Fed discovers consumers in order to forestall an audit, and the Consumer Financial Protection Agency taking over their purview.

This time, the Fed is going after fees on gift cards.

Seriously, is there anyone with two brain cells to rub together who does not understand that the Federal Reserve was hostile to the idea of actually enforcing consumer protections until Congress started about auditing it and taking away some of its enforcement power.