U.S. consumer watchdog curtails its power to pursue 'abusive' behaviour
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WASHINGTON (Reuters) - The U.S. consumer financial watchdog on Friday outlined how it would define "abusive" practices when overseeing companies, in another win for the industry, which has long complained that the agency has overstepped its remit by applying the term far too aggressively. Following the 2007-2009 global financial crisis, Congress passed the Dodd-Frank Act giving the Consumer Financial Protection Bureau (CFPB) broad authority to stamp out "abusive" acts or practices related to..