RSSHouse panel OKs new consumer agency
From: The Washington Times | October 22, 2009
A key House committee on Thursday voted to approve the creation of a new federal agency to protect consumers against abuses in the financial world, though the bill still faces hurdles in the full House and Senate and stiff opposition from Wall Street. The House Financial Services Committee voted 39-29 to support the proposed Consumer Financial Protection Agency — a key component of the Obama administration’s plans to reform the way the financial services sector does business. The panel’s action brought swift praise from the White House. “I congratulate the House Financial Services Committee and Chairman Barney Frank on passing …
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