Republican House bill modestly curbs bank watchdog's budget

April 22, 2015 11:28 PM

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The Republican-controlled House Wednesday passed legislation modestly curbing the growth of the Consumer Financial Protection Bureau, the agency established by the 2010 overhaul of financial regulations to enforce laws aimed at protecting consumers from unfair or illegal practices by banks, mortgage lenders and other financial services providers.

The measure would cap the agency's budget at $655 million in 2020 and $720 million in 2025. This year's budget is $582 million.

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