Barney Frank: New financial regulations will be signed in May

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(Reuters) – Sweeping financial reform is likely to be passed by the Senate this month and signed by President Barack Obama by the end of May, senior Democratic Representative Barney Frank said on Thursday.

“I think it will be passed in the Senate in April,” Frank, chairman of the House of Representatives Financial Services Committee, told a Boston Chamber of Commerce breakfast.

“I believe the president will be signing a financial reform bill before Memorial Day.”

Full story: Frank: New financial regulations could be signed by late May via Reuters