House Panel Weighs Means To Check CFPB's Accountability

Law360, New York (February 8, 2012, 3:25 PM EST) -- Banking industry representatives urged lawmakers on Wednesday to adopt several measures that would amend the Consumer Financial Protection Bureau’s funding source and its role on the Federal Deposit Insurance Corp. board, despite staunch Democratic opposition to these changes.

While representatives on both sides of the aisle supported a proposed measure to ensure that information given to the CFPB during examination remains confidential, they disagreed about whether two other recently-introudced bills were necessary to improve the CFPB's transparency and accountability.

These contentious measures debated during a hearing...
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