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US Sen Durbin: mulling mortgage bankruptcy options

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US Senate Democrats welcome a fight with Republicans over a proposed agency aimed at protecting consumers from abusive financial industry practices, a top Senate Democrat said Monday. Sen. Richard Durbin (D., Ill.), the second-ranking Democrat in the Senate, told reporters on a conference call that the GOP alternative to the proposed agency would protect "the most notorious" practices by debt collectors, pay-day lenders and other financial services firms. "If the Republicans want to stand behind those practices of the pay-day loan operations...I welcome the fight," Durbin said.

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