House Weighs Taking Some Oversight Duties From Fed

Law360, New York (June 17, 2010, 7:16 PM EDT) -- U.S. House of Representatives members preparing a final version of financial regulatory reform legislation proposed Thursday to strip out new nonbank oversight duties for the Federal Reserve, while pushing measures to pre-fund a new resolution authority and preemptively break up risky firms.

Senate representatives to the conference committee on H.R. 4173, the Wall Street Reform and Consumer Protection Act, are currently preparing their counteroffer to the House proposals on titles addressing the purview of a new Financial Stability Oversight Council, authority to wind down or break...
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