Consumer Financial Protection Agency Faces Fight

Law360, New York (June 19, 2009, 12:00 AM EDT) -- Since the Obama administration released its 88-page financial regulatory overhaul blueprint last week, a plan to create a new agency focused solely on protecting consumers of financial products has become a magnet for controversy.

With banking industry groups already publicly challenging the idea as Congress prepares to tackle the White House's regulatory reform proposal, questions are also being raised about what the true impact of a new agency focused only on consumer protection could be, and how it could alter the structure of U.S. financial regulation...
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