WASHINGTON — The consumer protection agency envisioned by the Obama administration would have wide latitude to crack down on abusive financial products, assess fees against financial firms, and subpoena information in the name of protecting consumers, according to a legislative proposal released Tuesday.

The Treasury Department, in unveiling the roughly 150-page document, put down an aggressive marker on a piece of legislation the financial services industry is already gearing up to oppose. If agreed to by Congress, the measure would for the first time create a single agency that would have broad authority to write and enforce rules against any firm that provides financial products to consumers, including mortgages and credit cards.

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