The finance overhaul will unleash new tools for regulators to detect problems in the U.S. financial system. The big question is whether its cost will filter through the economy.
Compliance with the new law is expected to raise costs for financial firms. Such firms will set up small armies to ensure they are adhering to the law, many details of which are still unwritten. Curbs or bans on certain businesses could eat into profits of big banks, hedge funds and private-equity firms alike.
However, the impact on businesses—customers of the banks—won’t be known until the bill goes into effect. That question was at the center of the fray as Congress drew up the legislation over the course of the year.
Full Story: Impact of Financial-Rules Overhaul Reaches Beyond Wall Street – WSJ.com
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