Obama proposes financial oversight committee

September 28, 2009 8:44:51 PM PDT
As you know, Congress responded to public outrage directed at credit card companies with reforms that take effect in February.

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President Obama signed the legislation earlier this year and on Monday, Consumer Action and other consumer groups threw their support behind another Obama proposal.

This one calls for a new consumer financial protection agency dedicated to monitoring financial companies.

A House committee will vote on a bill next month setting up the agency.

7 On Your Side will keep you posted on the progress of those efforts.

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