Dodd Reveals Financial Reform Bill Amid Criticism

Law360, New York (March 15, 2010, 7:25 PM EDT) -- Senate Banking Committee chairman Christopher Dodd, D-Conn., unveiled long-delayed financial reform legislation Monday, aiming to streamline bank supervision in the U.S., subject credit rating agencies to new rules and create a warning system for financial institutions that grow too big to fail.

The sweeping proposal, which Dodd released amid opposition from Republicans and the financial services industry, also contains a controversial and much debated proposal to create the Consumer Financial Protection Bureau, housed at the Federal Reserve and tasked with ensuring that consumers are protected from...
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