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House Passes Bill Limiting Consumer Regulator
The Wall Street Journal (online registration required): House lawmakers took aim at the Consumer Financial Protection Bureau on Thursday, passing Republican-backed legislation that would curtail the power of the federal regulator.
The bill passed by the House on a 232-182 vote, would replace the CFPB’s single director with a five-member board. It would also subject the regulator to funding from Congress, rather than from the Fed.
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