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House Panel Backs New Consumer Agency, Defeats Amendment on For-Profit Colleges

Source: house.gov Posted By: Mary P...4019 days ago

A House of Representatives committee on Thursday approved legislation that would create a new Consumer Financial Protection Agency designed to increase federal oversight of several forms of consumer credit, including private student loans. The measure, approved by the House Financial Services Committee along largely party lines and backed by the Obama administration, is heartily endorsed by consumer and student groups. But they were disappointed by the House panel's rejection Thursday of an amendment....

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