“Friends & foes” of CFPA
September 17, 2009 | federal legislation, industry | Comments (0)From the Capitol Hill newspaper The Hill:
An army of interest groups and Republicans is lining up against the proposal, with most hoping to kill it outright. The administration, allied Democrats on Capitol Hill and consumer advocates, meanwhile, argue that the agency is essential to bolstering consumer protection.
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Business lobbyists and centrist lawmakers are raising questions about the relationship between state and federal law under the proposal. The debate revolves around whether the new federal agency should have the power to pre-empt state action.
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