WASHINGTON — Industry lobbyists accept that they are unlikely to stop the creation of a new consumer protection agency, but many are confident they can curtail its powers.

Before the House Financial Services Committee votes on the issue next week, industry representatives are working to convince lawmakers that new agency should not have the power to examine and enforce rules against banks. They are also trying to soften language requiring lenders offer "plain vanilla" products before alternatives. Also on the table: ensuring state consumer protection laws are preempted and lenders are shielded from legal liability.

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