Industry NewsMortgage

House OKs financial regulatory facelift

Consumer protection agency would draft new appraisal rules
Published on Dec 11, 2009

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by CareyBot

Legislation that would tighten federal regulation of financial institutions and create a new agency tasked with protecting consumers has passed the House of Representatives in a 223-202 vote.

An amendment that would have stripped creation of the Consumer Financial Protection Agency from the bill was defeated, although industry groups are expected to continue lobbying against such an agency in the Senate.

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