The Financial Reform Bill to sign next week

in Credit
The bill of finance cleared the Senate by a vote including 39 voters support of 60. US President Barack Obama will decide to sign into law next week. The legislation, which will vastly reform the way big financial firms do business, is the most-sweeping set of changes to the financial regulatory system of the Unites States since the 1930s. 
 
According to its other provisions, the 2,300-page piece of legislation creates a consumer protection regulator as well as subjects more financial companies to federal oversight. The legislation also sets up a registered derivatives exchange and expands the authority of regulators to limit risk-taking and break up ailing financial firms as well as institutions that threaten the economy. In addition, the law imposes regulation on opaque markets for the first time. A number of the details have been left for regulators to work out but the first visible result may come in about two years.


Federal Reserve

Federal Reserve

 


Capital Cushions

Capital Cushions

 


Derivatives

Derivatives

 


Bank Restrictions

Bank Restrictions

 


Executive pay

Executive pay


Mortage Loans

Mortage Loans

 


Government Costs

Government Costs

 


Oversight

 

 

Oversight

 


Consumer Protection

Consumer Protection

 

 

Related links:

Top Ten Countries Carry Most Debt Burden

Taxes Make Comeback in 2011

White House officers’ income

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Phillips Crook has 377 articles online and 5 fans

I am the economic expert and analyze the economic situations in the world. Currently, I often address lectures on economic solutions to students and supply advice for companies and firms.

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The Financial Reform Bill to sign next week

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This article was published on 2010/07/19