Administrative/Regulatory
Oct. 24, 2009
Consumer Agency Closer to Reality
A congressional committee passed legislation Thursday for a stand-alone agency to regulate consumer financial products.
Daily Journal Staff Writer
WASHINGTON - A U.S. congressional committee passed legislation Thursday creating a stand-alone agency to regulate consumer financial products while allowing California and other states to enforce their own consumer-protection laws.
The Consumer Financial Protection Agency bill still allows for preemption - whereby federal law trumps state statutes - in limited circumstances. The prov...
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