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September 24, 2009

White House Scales Back Overhaul of Financial Rules
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In other news from Washington, the White House and congressional
Democrats are scaling back key elements of a proposed financial industry
overhaul. On Wednesday, 
House Financial Services Committee Chair Barney Frank said he would drop
a plan that would have required banks and other financial services
companies to offer so-called “plain vanilla” products such as long-term
fixed mortgages and low-interest credit cards.



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