Path cleared for financial system overhaul
The final House Senate votes on broad financial reform loom as Obama aims to sign by July 4. The package creates a federal consumer lending watchdog, limits debit card fees, discloses mortgage costs, and curbs risky incentives. Political impact remains uncertain amid public anger at Wall Street.
MENTIONED IN THIS ARTICLE
Washington, D.C
Congress
Starbucks
Wall Street
House
Senate
Barack Obama
Associated Press
Gfk
Nancy Pelosi
D-Calif
Consumer Federation of America
Apgfk
House Finance Committee
Barney Frank
D-Mass
Senate Banking Committee
Christopher Dodd
Financial reform pact outlines new oversight and limits
The proposal creates a 10 member regulator council led by the Treasury secretary to identify systemically risky firms and decide on tougher rules. It would empower liquidation of teetering giants, require capital adequacy, and curb risky derivatives and private equity investments while boosting Fed scrutiny and GAO audits.
MENTIONED IN THIS ARTICLE
Bank of America Corp
Goldman Sachs Group Inc
Jpmorgan Chase & Co
Federal Reserve
Treasury Secretary
Consumer Protection Agency
Fed
Oversight Council
Consumer Agency
Council of Regulators
Government Accountability Office
Congress
GAO
Wall Street
Also Mentioned on This Page
Toronto
Obama
White House
Consumer Protection
The
Credit Card Rating Agencies
Securities and Exchange Commission
Rou
Nourison
Karastan
Shaw
Broux
Green
Sierra Mar Capri Robin’s Egg
Sierra Mar
Akarta Batik
Ivry
Elk
Panel Agra
Agra
Amritsar
Oushak
Shapura
AuGusta
Waiursporo
Evans
Carpetshop.com
Silver Bluff Road
Aiken, SC