House Panel Exempts Over 8,000 Banks From Oversight

03/18/2010 05:12 am ET | Updated May 25, 2011
  • Stephen Labaton New York Times

Bowing to political pressure from community bankers, the House Financial Services Committee approved an exemption on Thursday for more than 98 percent of the nation's banks from oversight by a new agency created to protect consumers from abusive or deceptive credit cards, mortgages and other loans.

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