Business

Senate Bill Takes Aim At Banks

Wall Street Journal
WASHINGTON -- U.S. Senate legislation aimed at overhauling regulation of finance would cost large banks billions of dollars, prevent them from taking certain risks and create a new regulatory infrastructure to oversee their activities. The draft bill introduced Monday by Senate Banking Chairman Sen. Christopher Dodd of Connecticut is tougher on financial companies than was expected just a few weeks ago. Mr. Dodd's bill would allow the Fed to examine any bank-holding company with more than $50 billion in assets, and large financial companies that aren't banks could be lassoed into the Fed's supervisory orbit.
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Posted by Editor at March 17, 2010 02:01 AM