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July 7, 2009

Financial Industry Lobbies Against Proposed Consumer Protection Agency
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The financial industry is preparing to escalate a lobbying and public
relations effort against the Obama administration’s proposal for a
Consumer Financial Protection Agency. Lobbyists have begun meeting with
members of the House Financial Services Committee ahead of the
proposal’s expected introduction on Capital Hill later this month. The
Washington Post reports industry groups are discussing a propaganda
effort similar to the campaign that derailed health care reform efforts
under President Clinton in the 1990s. Among the proposals include a
campaign similar to the ‘Harry and Louise’ ads that depicted Clinton’s
health plans as an attack on free consumer choice.



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