Battle Brews Over Director for New Consumer Financial Protection Bureau

latimes.com — President Obama reversed decades of lax oversight of the financial industry Wednesday by signing a landmark overhaul of regulations, but he still faces a major task — appointing a director for the powerful new agency charged with protecting consumers from unscrupulous deals.

The law dramatically toughens oversight of the industry, from Wall Street's executive suites to the Main Street storefronts of mortgage brokers and payday lenders.

Read Full Article »