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Obama urges creation of agency to regulate financial industry With a key vote nearing, the president slams banks and business groups, saying they want only “to maintain the status quo that has maximized their profits at the expense of American consumers.” By Jim Puzzanghera October 10, 2009 Reporting from Washington – President Obama tried to build momentum for the centerpiece of his overhaul of financial regulations — a new agency to protect consumers — by aiming to derail the strong opposition from business groups that threatens its passage by Congress. In some of his sharpest comments on the issue, Obama slammed banks and the US Chamber of Commerce for trying to block, or at least water down, the proposed Consumer Financial Protection Agency as it heads toward a vote in a House committee next week. “They’re doing what they always do, descending on Congress, using every bit of influence they have to maintain the status quo that has maximized their profits at the expense of American consumers, despite the fact that recently a whole bunch of those same American consumers bailed them out as a consequence of the bad decisions that they made,” Obama said Friday at a White House gathering of key lawmakers, administration officials and other supporters. The consumer agency has wide support among Democrats, including Rep. Barney Frank of Massachusetts. Frank is chairman of the House Financial Services Committee, which takes up the measure next week. Many Republicans, bank …