CFPA Shouldn't Limit States' Rights, AGs Say

Law360, New York (November 5, 2009, 12:43 PM EST) -- Attorneys general from 40 states and territories have signed a letter urging legislators not to let a potential new federal consumer protection agency preempt states' authority to enforce financial regulations.

Penned by Attorneys General Tom Miller and Rob McKenna of Iowa and Washington, respectively, the letter asks Congress and the Senate to “encourage an active and effective partnership” between state and federal regulators should the Consumer Financial Protection Agency being sculpted on Capitol Hill come to fruition.

Attorneys general from an additional 35 states, as well...
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