Frank: CFPA is an important component of regulatory reform

02/19/2010 | Bloomberg Businessweek

House Financial Services Committee Chairman Barney Frank, D-Mass., reiterated his support for the creation of a Consumer Financial Protection Agency as part of broader regulatory reform measures being hashed out among members of Congress. The new, standalone agency, which the GOP and banks including JPMorgan Chase & Co., oppose, is "very important to us," Frank said. A competing proposal by Republicans is expected to put consumer protection oversight within a new bank regulator instead of creating a standalone agency for that purpose.

View Full Article in:

Bloomberg Businessweek

Published in Brief: