Rifts emerging among Democrats
May 6, 2010 | federal legislation, industry | Comments (0)From The Hill:
Rifts are emerging among Senate Democrats over how much power the federal government should have under the Wall Street overhaul bill to pre-empt state consumer regulations.
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The balance of federal and state power is at the heart of the debate over a new federal regulator on consumer financial products. As part of its effort to overhaul Wall Street, the White House has pushed hard for more than a year to give state attorneys general and other state officials the power to pursue tougher regulations than imposed by the federal government.
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