Lawmakers Close to Deal on New Federal Consumer Financial Protection Bureau
June 23, 2010: The Los Angeles Times reports that Senate and House negotiators are close to reaching agreement on the creation of a new consumer protection agency as part of the financial services overhaul legislation working its way through Congress and expected to be presented to President Obama for signature within the coming weeks. According to the report, lawmakers are working out a compromise that would mostly exempt car dealers from the new agency's oversight. Legislators have reportedly agreed to house the independent agency at the Federal Reserve.
