Housing Information :: Financial regulation bill nears finish line

Keep the Information Flowing

Small contributions go a long way. Your donation to Consumer Action, a 501 (c)(3) nonprofit, nonpartisan organization, can help us cover the cost of research, writing, and translation of our materials. To keep our services free for those who need them. Select an amount to give.

Released: July 13, 2010

Financial regulation bill nears finish line

Source: Brady Dennis, Washington Post (Free Registration)

Two key Republicans said Monday that they plan to support a far-reaching bill to overhaul financial regulations, all but ensuring that the landmark legislation will sail through the Senate in coming days.

GOP Sens. Olympia J. Snowe of Maine and Scott Brown of Massachusetts, whose unexpected election in January threatened to derail the White House’s top legislative priorities, on Monday committed the votes that could give President Obama a high-profile victory in his quest to overhaul the nation’s financial regulations. The landmark legislation now seems likely to land on the president’s desk within days, giving Democrats an opportunity to proclaim during the coming election season that they acted to rein in the recklessness of Wall Street.

Read Full Article: Financial regulation bill nears finish line