US Senate passes tougher new financial reforms
Banking news / 16 July 2010 /
Final approval was given by United States Senators for the biggest overhaul of the country’s financial regulation in decades. The sweeping reforms, intended to avert a repeat of the 2008 crisis that brought the world economy to the brink of collapse, were voted through after months of political wrangling and therefore seen by many is a major victory for the Obama administration. Speaking afterwards, the President said the new regulation would give the strongest consumer protection in history, and that the American people “would never again be asked to foot the bill for Wall Street’s mistakes.” (more…)
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