Blog - Articles Tagged 'finance'

More than one year after the crisis on Wall Street, the House of Representatives today passed a landmark bill (H.R. 4173) to fix some of the regulatory lapses that are alleged to have caused the crisis and puts in place new mechanisms for preventing "too big to fail" banking and the resulting bailouts.

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.

The television and Internet are plastered with health care coverage, but there are other issues bound to move through Congress this fall. One issue that appears to be moving soon is a package of new financial regulations, which include the Consumer Financial Protection Agency Act of 2009 (H.R. 3126). House Financial Services Committee Chair Barney Frank has tentatively scheduled a vote in committee for the CFPA Act on September 23.