Wall Street, Wall Street Reform | featured news

WHY IT MATTERS: Wall Street regulation and reform

The 2008 financial crisis roiled the banking system and swamped the global economy, leaving millions of Americans jobless, underemployed or facing foreclosure. In its wake, Congress set out to overhaul how the government oversees Wall Street. The result was a sprawling law, the Dodd-Frank Act, which aims to prevent future crises by giving the government new tools and restricting banks' activities. The law may make future crises less likely, but it increases costs for companies, especially banks, and their customers.

 

Rep. Barney Frank to retire, closing long career

Rep. Barney Frank to retire, closing long career

Democratic Rep. Barney Frank of Massachusetts does not intend to seek re-election in 2012, his office said Monday, closing out a career of more than three decades in Congress capped by last year's passage of legislation imposing new regulations on Wall Street.

 

Auto dealers win while banks lose in Wall Street bill

Lawmakers on Tuesday spared auto dealers from new scrutiny and neared agreement on trading limits for banks as they raced to complete the biggest overhaul of the financial rule book since the 1930s.

 

GOP may end filibuster of financial reform bill

GOP may end filibuster of financial reform bill

The Senate's top Republican signaled Wednesday that a GOP filibuster of Wall Street reform legislation will end.

 

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