5/6/2010

Senate Republicans offered an alternative plan to President Barack Obama's consumer protection proposal in regulatory reform legislation. The GOP version follows a 93-5 Senate vote to eliminate a proposal to create a $50 billion fund that would have been used to bail out big financial institutions if they failed. The Republican plan would limit the powers of a proposed Consumer Financial Protection Agency. The entity has been one of the biggest sources of contention in the regulatory reform debate.

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