Lawmakers pass financial regulatory legislation in the House

House lawmakers approved a sweeping financial oversight bill that would change the way that financial products and services are regulated and monitored by the government.

House lawmakers approved a sweeping financial oversight bill that would change the way that financial products and services are regulated and monitored by the government.

It would also create a Consumer Financial Protection Agency that would "have the power to write rules for a variety of financial activities involving loans or credit, to monitor large firms for compliance and to ban products and business practices it deemed were 'unfair, deceptive or abusive.''

Included in the legislation are provisions about executive pay, investor protection, credit ratings, hedge funds, and insurance.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in