House Passes Major Financial Overhaul Bill

Law360, New York (June 30, 2010, 7:51 PM EDT) -- The U.S. House of Representatives has passed a landmark bill seeking sweeping financial reform in an effort to prevent a repeat of the recent financial meltdown brought on by banks’ risky trading and investment activities.

House lawmakers on Wednesday voted 237-192 to approve H.R. 4173, the Dodd-Frank Wall Street Reform and Consumer Protection Act, after hours of debate over legislation that plans to place limits on mortgages and derivatives, overhaul the relationship between financial businesses and regulators, and expand officials’ authority to address turmoil in the...
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