Politics & Government

May 6, 2010

Senate rejects GOP effort to weaken consumer safeguards

The Senate, with a strong push from the White House, rejected 61-38 on Thursday a Republican-led effort to dilute strong new protections for consumers who face problems with mortgages and other forms of credit. The bill to overhaul U.S. financial regulation, written largely by Democrats, would create a new consumer finance protection agency.

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