homeWelcome, sign in or click here to subscribe.login
     


 

 

Business


Subscriber content preview

October 23, 2009

House panel OKs new consumer agency

  • Numerous groups would be exempt from oversight, including retailers, auto dealers, real estate brokers, lawyers, cable companies and accountants.
    • By ANNE FLAHERTY
    Associated Press Writer

    WASHINGTON — The House Financial Services Committee voted Thursday to create a federal agency devoted to protecting consumers from predatory lending, abusive overdraft fees and unfair rate hikes.

    Democrats are hailing the 39-29 vote as a win for the average American. It is a major step forward in enacting President Barack Obama's plan to tighten the rules governing Wall Street, although the measure still faces scrutiny by the full House and Senate.


     
    . . .


    To read this story in full login or purchase a subscription.



    
    Email or user name:
    Password:
     
    Forgot password? Click here.