Blog - Articles Tagged 'Melissa Bean'

The House today is expected to vote on and pass the Democrats' comprehensive financial regulations overhaul bill (H.R. 4173). But before they do, they'll likely approve an amendment from the pro-business New Democrats Coalition to pre-empt tougher state laws. Congressional Democrats and the Obama Administration have been fighting against this for months.

In stunning loss for the big national banks, Rep. Melissa Bean (D-Ill.) is withdrawing an amendment to a financial regulatory bill in the House Committee on Financial Services' mark-up. The amendment would have preempted national banks from additional regulation at the state level.

One year after the biggest economic collapse since the Great Depression, Congress is still debating new financial regulations to protect consumers and prevent risk-taking in the financial sector. The House Committee on Financial Services is currently undertaking the important first step of writing, amending and voting on some of the pieces of the long-proposed financial regulatory reform.