Consumer Groups Rip Chris Dodd Over Financial Protection Agency Compromise

huffingtonpost.com — Consumer advocates are reacting harshly to a compromise Consumer Financial Protection Agency being proposed by Banking Committee Chairman Chris Dodd (D-Conn.). Dodd's proposal puts a variety of obstacles in front of the proposed agency, which would be called the Bureau of Financial Protection and housed in the Treasury Department. Without independence, the agency loses its ability to write or enforce strong rules.

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