The House of Representatives passed a bill late Thursday night 241-173 to restructure the newly launched Consumer Financial Protection Bureau and provide more power to the agency's oversight committee.
Rep. Sean Duffy (R-Wisc.) introduced The Consumer Financial Protection Safety and Soundness Improvement Act of 2011, or H.R. 1315, which would establish a bi-partisan five-member commission to carry out the duties of the agency instead of a director.
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