The House Appropriations Committee voted Thursday to cap funding for the Consumer Financial Protection Bureau at less than half of what was originally estimated for the agency.
The legislation provides annual funding for the Treasury Department, the Securities and Exchange Commission and other agencies for the fiscal year 2012. According to the bill, the Federal Reserve, which will fund the CFPB, cannot obligate more than $200 million to the agency, but the Fed estimates the CFPB will require $500 million.
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