Legislation targets unpaid fines, such as hotel taxes and rental fees by eliminating the possibility of a lawsuit if someone doesn’t meet certain terms. It also allows the Justice Department to investigate and take action if state and local authorities don’t comply with the law’s requirements.
The bill would have been called the Justice for all Laws Act, but that name was changed to the Consumer Fraud and Abuse Prevention Act of 2010.
The White House is trying to lure some of the big business lobby’s financial supporters from out of the political process and onto its side.
And after four years of economic reco더킹카지노very and economic growth, many in Washington still remember their 2011 budget deficit. They’re pushing President Obama to agree to the measure that could bring in $85 billion less in revenue than was originally promised.
“The Obama Administration has committed to reforming how we enforce our nation’s consumer protection laws,” spokeswoman Lindsay Walters said in a statement더킹카지노. “This is an important step to achieve that goal. I’m encouraged by the progress of the Congress.”
Rep. Carolyn Maloney, D-N.Y., the ranking Democrat on the House Financial Services Committee, is one of those backing the bill.
“The president’s commitment to reforming this critical sector of the economy is a clear, bipartisan choice — and we should encourage this,” Maloney spokeswoman Laura Rozman said.
But several business leaders have already come out against the legislation.
“The idea that the Federal Consumer Financial Protection Bureau has been created solely for the purpose of raising revenue is absurd,” said Jim O’Sullivan, founder and president of the American Bankers Association, which represents 500 lenders in the country. “This legislation is an effort by Democrats in Congress to try to gut our financial privacy laws and make it even harder for Americans to report fraud and protect themselves from financial institutions who are misusing consumers’ money.”
For now, President Obama and Rep우리카지노ublicans from both parties remain in a dead heat over the budget.
Some White House officials are still hopeful of striking a compromise that would balance the bill and pass it by Christmas.
“The president wants to do more to make consumer protection stronger, but in my view, the House would require the president to do more in order to get there than the Senate would,” White House budget director Shaun Donovan said in an interview.
Some Republicans, however, are not sure if a $85 billion reduction bill would make economic sense if the Senate’s proposal would give in to Obama’s demands for big government spending to balanc