Consumer Financial Protection Act Passed By House Committee

The proposed Consumer Financial Protection Agency took another step forward Thursday in the House, moving out of the Financial Services Committee -- albeit a bit weaker -- on its way toward the floor. CFPA, which would be the first federal regulatory agency devoted solely to consumer financial protection, passed the committee 39 to 29. All but one of the assembled committee Republicans and two Democrats voted against the consumer protection bill, despite a series of compromises that included