Lawmakers Concerned By Weak Consumer Protection

Law360, New York (May 11, 2007, 12:00 AM EDT) -- Worried that consumers have become vulnerable in the financial services sector, two key legislators have sent a letter to a slew of federal agencies, urging officials to do more to beef up consumer protection.

On Friday, Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee, and Rep. John Dingell (D-Mich.), chairman of the House Committee on Energy and Commerce, joined forces to encourage organizations like the Federal Trade Commission and the Federal Deposit Insurance Corp. to implement additional safeguards.

“A series of regulatory actions,...
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