Chris Dodd unveils financial regulatory overhaul bill

Today, Chris Dodd, chairman of the Senate Committee on Banking, Housing and Urban Affairs, unveils the much anticipated financial regulatory reform bill. The bill will create a new consumer protection authority housed at the Federal Reserve, proposes a new mechanism for unwinding large failing financial institutions, more stringently regulates over-the-counter derivatives, streamlines federal bank supervision, creates a financial stability oversight council, and propose changes to executive compensation and corporate governance rules.

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