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Released: July 21, 2010
Wall Street reform law’s starting line
Source: Jennifer Liberto CNN Money
As soon as President Obama’s name shows up on the Dodd-Frank Wall Street reform law Wednesday, there will be some changes in the way the financial industry does business.
Immediately, regulators will get new powers to take down failing giant financial firms - powers they didn’t have in 2008 when the investment firm Lehman Brothers collapsed and threatened the entire financial system.
Other big provisions are closer to a year away, such as forcing complex financial contracts to be traded on open exchanges, and creating new consumer protection rules requiring more disclosure and fewer hidden fees for mortgages and credit cards.
Read Full Article: Wall Street reform law’s starting line
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