UPDATE 1-Obama threatens to veto bill over funding for U.S. consumer watchdog

April 21, 2015 6:53 PM

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WASHINGTON, April 21 (Reuters) - President Barack Obama will veto a bill requiring the U.S. consumer watchdog to establish special advisory groups if the final version of the legislation cuts the level of funding available to the agency, the White House said on Tuesday.

The U.S. Consumer Financial Protection Bureau has created outside committees to advise it on actions related to community banks and credit unions. The legislation currently in the U.S. House of Representatives would make those groups mandatory and create another panel made up of small business leade...

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