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New rules reshape the financial world in major reform effort
Democrats in the Senate push to pass a sweeping 2,300 page bill imposing the sharpest bank and Wall Street rules since the Great Recession. The package requires 60 votes, with timing set over months and months of negotiations. Regulators will require banks to disclose more, verify borrowers ability to repay, and set new oversight standards while financing the plan with FDIC fee adjustments and bailout funds.
MENTIONED IN THIS ARTICLE
Washington
Senate
Wall Street
Congress
Barack Obama
Diana Farrell
White House
National Economic Council
Travis Plunkett
The
Consumer Federation of America
House
Harry Reid
D-Nev
Robert Byrd
D-Wva
Susan Collins
Maine
Charles Grassley
Iowa
Federal Deposit Insurance Corp
Grassley
Jill Kozeny
Obama
Party of