WASHINGTON — After months of holding the line on the Obama administration's plan to reform financial services oversight, Treasury Secretary Tim Geithner showed a willingness to compromise Wednesday, agreeing to relax some consumer protections.

House Financial Services Committee Chairman Barney Frank is expected to introduce a revised bill soon that embraces the administration's plan to create a new consumer financial protection agency but that would drop a requirement that banks offer a "plain vanilla" version of their products.

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