Dodd-Frank bill would bring about sweeping changes to Wall Street

Pat McMahon | Contributor

The landmark overhaul of Wall Street agreed to by Senate and House conferees early Friday morning would enact sweeping new rules on banks and other financial institutions.

Congress is expected to vote on the legislation next week, and President Barack Obama hopes to sign it by the July Fourth holiday.

The 2,000-page bill aims to prevent taxpayer-funded bailouts that followed the financial crisis of 2008-2009. It would revamp regulation of mortgages, credit cards, broad financial system risks and the $600 trillion derivatives market.

Full story: Dodd-Frank bill would bring about sweeping changes to Wall Street – The Hill’s On The Money

Tags : th of july bailout barack obama business finance congress economic history economics economy business politics president punahou school alumni senate usd
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