US set for new regulator?

The United States administration is considering setting up a regulator to oversee certain financial products, it emerged on Wednesday.

The Washington Post, a newspaper, reported that plans for an agency to protect consumers against products as wide ranging as mortgages and mutual funds were in the offing.

The newspaper quoted sources as saying: "Plans for a new body remain fluid, but it could be granted broad powers to make sure the terms and marketing of a wide range of loans and other finan