Friday, the US House of Representatives passed their version of the financial regulatory reform package. By a vote of 223 to 202, the House followed much of what the White House wanted for the bill. The bill is broad in its scope from OTC derivative regulation to the creation of a new Consumer Financial Protection Agency (CFPA) to a new system for winding down failing financial institutions. The Senate is expected to move forward on their version next year.

Just weeks away from entering an election year, the Democratic leadership is pleased with delivering on a reform bill. At a … …READ MORE