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The new federal consumer bureau doesn’t even open for business until July, but House Republicans on Wednesday took the first steps to change its structure in a way that Democrats say would weaken it.

The House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit approved bills that would have the bureau run by a five-member board rather than a director; allow the bureau’s decisions to be overturned by a majority vote of the Financial Stability Oversight Council rather than two thirds; and delay the July 23 start up of the bureau until a director is in place.

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