And we’re right along side them
March 9, 2010 | federal legislation, industry | Comments (0)“Banks Battle Back Against Consumer Agency” in today’s National Journal:
Having mounted an unprecedented push for a consumer protection agency as the centerpiece of a financial industry regulatory overhaul, consumer advocates may soon face a painful choice: bail or bite their tongues.
If Senate banking leaders drop plans for the Consumer Financial Protection Agency, its champions will have to decide whether to back a bill that’s missing what they consider its essential ingredient, or abandon the financial services reform effort altogether.
Some Senate Democrats are already getting cold feet over the plan now being hashed out by Senate Banking, Housing and Urban Affairs Chairman Christopher Dodd, D-Conn., and panel Republican Bob Corker of Tennessee. Ongoing Senate negotiations are expected to produce a package as early as this week.
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