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Article: Consumer Financial Protection Agency Needs Strengthening to Keep Consumers and the Economy Safe.
- Article from:
- Politics & Government Week
- Article date:
- November 5, 2009
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A new consumer financial protection regulator was wounded but not crippled by a barrage of special interest lobbying and amendments before final approval of the bill in the House Financial Services committee yesterday, said the nonpartisan Consumer Watchdog.
"Americans want an end to the culture of greed and consumer abuses that led to the financial crisis. This bill is an essential step toward reform, but it was weakened by the financial firms who want to avoid strong oversight," said Carmen Balber with Consumer Watchdog. "We look to Congress to strengthen the bill as it moves forward so consumers are truly protected against abuses and outrageous treatment by ...