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One year after the biggest economic collapse since the Great Depression, Congress is still debating new financial regulations to protect consumers and prevent risk-taking in the financial sector. The House Committee on Financial Services is currently undertaking the important first step of writing, amending and voting on some of the pieces of the long-proposed financial regulatory reform.

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On Wednesday, the House Financial Services Committee will begin its mark-up of the Consumer Financial Protection Agency Act of 2009. This is the first bill Congress will take up to fulfill President Obama's effort to re-regulate the financial markets. Click through to read the details of the CFPA legislation.

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