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Yesterday, House Financial Services Committee Chairman Barney Frank (D-MA.), joined by twelve cosponsors, introduced H.R. 3126, the "Consumer Protection Financial Agency Act of 2009," which would, as its name implies, establish a new Consumer Financial Protection Agency (CFPA
Following a stinging letter sent on Tuesday by Senate Majority Leader Harry Reid (D-NV) and Senate Banking Committee Chairman Christopher Dodd (D-CT) claiming that "Senate Republican leadership seems more interested in mischaracterizing the legislation and protecting Wall Street," Senator Reid yesterday filed for a cloture vote late Monday afternoon on the financial regulatory reform bill, the "Restoring American Financial Stability Act."
