Regulatory Reform I HR 4173 The House was expected to finish voting this week to approve a package of regulatory reform measures from House Financial Services Committee Chairman Barney Frank.

The Wall Street Reform and Consumer Protection Act comprises separate bills designed to improve the regulatory system's framework and to prevent the current financial crisis from recurring. It includes provisions to expand the Federal Deposit Insurance Corp.'s power to resolve systemically significant firms, allow the Federal Reserve Board to be a systemic-risk regulator, and create a consumer financial protection agency. The legislation also includes measures to regulate derivatives, reform the credit rating agencies, enhance investor protections, regulate subprime lending and tie executive compensation to performance as a means of discouraging excessive risk-taking.

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