The Washington Post‘s financial journalists David Cho and Brady Dennis recently published, "Obama may compromise on consumer agency to pass financial regulation," which reveals that the Obama administration is no longer insisting on an independent Consumer Financial Protection Agency (CFPA). The Administration is concerned about quickly passing the bill through Congress:
President Obama’s economic team is now open to housing the consumer regulator inside another agency, such as the Treasury Department, though they still prefer a stand-alone agency. In either case, they are insisting on a regulator with political autonomy and real teeth so it can effectively enforce rules designed to protect consumers of mortgages, credit cards and other financial products.
Treasury Timothy Geithner met with Senators Dodd and Corker Wednesday night to discuss a possible compromise on financial regulatory reform:
In one scenario under discussion, a consumer bureau would be set up within the Treasury Department. In another, a consumer protection division would be established inside a new national agency to regulate banks.
Meanwhile, Elizabeth Warren has not conceded defeat. She appeared on Real Time with Bill Maher last Friday to advocate for financial reform.