Senate OKs Bank Oversight Relief Bill

Law360, New York (October 2, 2006, 12:00 AM EDT) -- In a move that banks and credit unions have long called for, the U.S. Senate on Saturday gave the green light to a bill that will update regulations of the financial services industry by reducing or eliminating certain redundant rules.

The Senate’s nod – among the final actions taken by the 109th Congress before adjourning ahead of the November elections – came just days after the U.S. House of Representatives unanimously approved the bill, the Financial Services Regulatory Relief Act of 2006.

The bill will now...
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