Republicans Seek Information About New Consumer Finance Bureau
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U.S. House Republicans are seeking information about the agenda and structure of a new bureau that will write and enforce regulations aimed at protecting consumers’ use of financial services in the nation.
Representatives Spencer Bachus and Judy Biggert sent a letter dated Nov. 22 to the inspectors-general of the Federal Reserve and the Treasury Department requesting “rigorous” oversight of the Bureau of Consumer Financial Protection, according to a copy obtained by Bloomberg News. They requested a response by Jan. 10.