11/4/2009

Establishing the Consumer Financial Protection Agency is one of the key tenets of the Obama administration's proposed regulatory overhaul. Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, said he is making a consumer-protection agency his priority. With much of the public attributing the economic downturn to the banking industry, the CFPA has support from the masses. The situation is making it increasingly difficult for the banking industry to prevent Congress from moving forward.

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Bloomberg

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