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Senate Banking Committee Backs Dodd Bill

HeadlineMar 23, 2010

In other news from Washington, the Senate Banking Committee has advanced Democratic Senator Christopher Dodd’s measure to overhaul financial regulation. Critics have faulted Dodd’s proposal for giving new power to the Federal Reserve while gutting the proposed Consumer Financial Protection Agency and housing it inside the Fed. But the measure also includes new protections and incentives for Wall Street whistleblowers and the establishment of an oversight body for credit rating agencies. The measure now goes before the full Senate.

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