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Article: Obama spells out overhaul rules
- Article from:
- Telegraph - Herald (Dubuque)
- Article date:
- June 18, 2009
- Author:
CopyrightCopyright 2009 Telegraph - Herald (Dubuque). Provided by ProQuest LLC. (Hide copyright information)
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financial plan at a glance The provisions of President Barack
Obama's plan to improve oversight of the financial industry include:
- Creating a council of regulators called the "Financial Services
Oversight Council" to monitor risk across the financial system. The
council will be chaired by the treasury secretary and include the
heads of existing federal financial regulators, the Federal Reserve
among them, and representatives of new regulators. - Establishing a
Consumer Financial Protection Agency to protect consumers from
deceptive practices by credit card lenders and mortgage brokers. -
Giving new authority to the Federal Reserve to supervise firms
considered so big or influential ...