Financial Overhaul Curbs Wall Street, Helps Consumers

The sweeping financial reform bill signed Wednesday by President Obama marks an important first step toward curbing Wall Street abuses and providing increased protections for American consumers and investors.

The bill creates a bureau of consumer financial protection, reduces fees on most credit card transactions, and requires retirement and insurance advisers to act in the best financial interests of their clients.

Attention now shifts to the federal bureaucracy, where officials will write the voluminous regulations that will implement the legislation. Lobbyists from all sides of the debate will attempt to influence details of the regulations. … Back to Article