Regulator calls for changes to consumer-protection proposals

03/18/2010 | Financial Times (tiered subscription model)

John Dugan, comptroller of the currency, joined financial-industry executives in urging lawmakers to change proposed rules for consumer protection. "In every case, consumer protection has the edge and will trump safety and soundness, and I think that is backward," Dugan said. He said a consumer-protection bureau proposed by Senate banking committee Chairman Christopher Dodd was too strong.

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