Key Points of the Wall Street Reform Bill
By Tom Braithwaite
Published: May 21 2010 FT
A new Consumer Financial Protection Bureau would be set up inside the Federal Reserve, but with complete independence from the central bank; it would tackle "abusive" mis-selling of mortgages, credit cards and other loan products. Banks and other finance providers worry about onerous reporting standards, the possibility of credit products being banned and the dearth of checks on the power of the CFPB chairman.
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