Why Does Chris Dodd Want To Put the Fed In Charge of Consumer Protection?

The long-awaited Consumer Financial Protection Agency will come a step closer to reality Monday when Sen. Christopher Dodd (D-Connecticut) introduces his new bill of financial regulations.

There are many potential problems with the CFPA — among other things, that it will hurt consumers by driving up compliance costs and limiting choice, and that it will police small matters while not making any difference on the big ones.

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