Modified CFPA Act Heads To Full House

Law360, New York (October 22, 2009, 1:30 PM EDT) -- Following nearly five days of grueling markup on the Consumer Financial Protection Agency Act of 2009, the U.S. House of Representatives' Financial Services Committee on Thursday voted to report the amended bill, which contains big departures from the Obama administration's original proposal.

Members of the Financial Services Committee voted 39-29, largely along party lines, to pass the bill — a key provision of President Barack Obama's financial regulatory reform package that would create a brand-new federal agency to promulgate, oversee and enforce rules governing consumer financial...
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