Congress Set For Consumer, Derivative Rules Battle

Law360, New York (May 21, 2010, 7:05 PM EDT) -- The U.S. Senate’s passage of landmark financial regulatory reform legislation has set the stage for what experts predict will be a tough debate over new rules on consumer protection, derivatives and high-risk trading as the Senate and the U.S. House of Representatives attempt to reconcile their bills by July 4.

Following the successful 59-39 vote in the Senate Thursday night, President Barack Obama huddled on Friday with House Financial Services Committee chairman Barney Frank, D-Mass., and Senate Banking Committee chief Chris Dodd, D-Conn., to hash out...
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