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Consumers Union Urges Obama Administration to Let States Take Greater Role in Overseeing Banks
February 5, 2009States should be able to enforce consumer protections that apply to all banks that operate within their borders, according to Consumers Union, the nonprofit publisher of Consumer Reports. The group urged Treasury Secretary Timothy Geithner to rescind Bush Administration era regulations that have prevented states from protecting consumers from many of the mortgage lending abuses that contributed to the current foreclosure crisis. Full release.
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