Attorneys General Make Last-Ditch Plea for CFPA

Law360, New York (March 1, 2010, 6:26 PM EST) -- State attorneys general continued their push Monday for legislation creating an independent federal Consumer Financial Protection Agency, even as reports surfaced that U.S. Senate negotiators had dropped the controversial proposal in an effort to revive financial reform efforts.

The group, including Iowa AG Tom Miller and Illinois AG Lisa Madigan, said the creation of a stand-alone agency would help prevent another financial meltdown and help ensure consumer protection.

“Of all the components of the proposed financial reform package, the CFPA would have the most immediate and...
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