Still obstacles to the CFPA
February 12, 2010 | federal legislation, industry | Comments (0)I was heartened this morning by this story in The Hill:
The push for a new federal agency for consumer financial protection faces major obstacles, even as senators on Thursday resumed bipartisan negotiations.
Senate Banking Committee Chairman Chris Dodd (D-Conn.) announced new negotiations with freshman Republican Sen. Bob Corker (R-Tenn.) after a previous round of bipartisan talks had collapsed. Dodd had reached an “impasse” with the top Republican on the panel, Sen. Richard Shelby (Ala.), particularly over a proposed Consumer Financial Protection Agency (CFPA) to regulate products such as home loans and credit cards.
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