Democrats Vote "Present" On Grayson's Financial Autopsy Amendment
WASHINGTON,
October 22, 2009
- During consideration of H.R. 3126, legislation to establish a Consumer Financial Protection Agency (CFPA), Rep. Alan Grayson (D-FL) offered an amendment that would require the CFPA Director to conduct an annual financial autopsy of bankruptcies and foreclosures. The Grayson amendment would provide another mechanism for the Director to create "plain vanilla" products by empowering the CFPA Director to eliminate financial products if the agency determines a financial product "appeared to have caused a substantial number of bankruptcies and foreclosures." |