BURR HAS BACKED REINING IN WATCHDOG AGENCY BEHIND WELLS FARGO FINE (Winston-Salem Journal) -- U.S. Sen. Richard Burr, R-N.C., has supported a sustained Republican effort to control the purse strings of the federal consumer watchdog agency that recently fined Wells Fargo $100 million, an effort that law experts say would allow Congress to weaken the agency. The watchdog agency, known as the Consumer Financial Protection Bureau, or CFPB, was formed primarily on Democratic support under the sweeping Dodd-Frank Wall Street Reform and Consumer Protection Act in response to the real-estate and financial-sector meltdowns of 2008.
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