An Independent Consumer Financial Protection Agency Could Be Dead

Bankers have aggressively tried to kill an independent Consumer Financial Protection Agency (CFPA) since President Obama first made the proposal when he took office. Now that Sen. Christopher Dodd (D-Conn.) no longer has to worry about getting reelected, he's considering scrapping the idea of an independent agency in return for bipartisan support of the broader financial regulation overhaul bill, according to a report in Friday's Wall Street Journal.