Major changes to banking regs clear U.S. House

Though a victory for Obama’s administration, the bill dilutes some of his recommendations

By Jim Kuhnhenn / The Bulletin
December 12, 2009

WASHINGTON — The House passed the most ambitious restructuring of federal financial regulations since the New Deal on Friday, aiming to head off any replay of last year’s Wall Street failures that plunged the nation deep into recession.

The sprawling legislation would give the government new....

Read complete article