- Elizabeth Warren originally promulgated the idea with a Summer, 2007, essay in Democracy: A Journal of Ideas titled “Unsafe at Any Rate”.
- A bill establishing a Financial Product Safety Commission has been introduced in Congress as H.R.1705 and S.566, and referred to committee in both House and Senate.
- Contemporaneously, the Consumer Financial Protection Agency Act of 2009 has been proposed by the Obama administration, with this main document, and this Fact Sheet, both presented — and celebrated centrally — as part of the administration’s broader financial regulatory reform platform.
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