In an effort to find a middle ground on a proposed consumer financial protection agency, Rep....

|By:, SA News Editor

In an effort to find a middle ground on a proposed consumer financial protection agency, Rep. Barney Frank announced a modified plan that would see the new regulator focus on protecting consumers from deceptive or abusive credit cards, mortgages and other loans, but not adopt President Obama's proposal to force banks and other financial services companies to offer 'plain vanilla' products.