Reconciled Financial Reform Includes Volcker Rule, Derivatives Reform
June 28th, 2010
A conference of House Representatives and Senators agreed early this morning on a sweeping financial regulatory reform bill after weeks of reconciliation between separate House and Senate versions.
The reconciled bill establishes the Consumer Finance Protection Bureau, ends taxpayer-funded bailouts, brings greater regulation to the derivatives market and provides grants through the US Department of Housing and Urban Development (HUD) to help mortgage borrowers facing foreclosure.
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