Obama wants big financial firms to fund proposed consumer-protection agency

08/14/2009 | Bloomberg · Washington Post, The

The White House is considering increasing fees on financial firms with more than $10 billion in assets to fund the proposed Consumer Financial Protection Agency. Larger financial institutions "will pay more for prudential and consumer supervision, while community banks will not pay any more for supervision than they do today. Nonbanks will be assessed for the first time," said Treasury spokesman Andrew Williams.

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Bloomberg · Washington Post, The

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