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Financial Regulatory Reform: The Credit Rating Agency Bill

December 28, 2009

By Lagan Sebert
Huffington Post Investigative Fund
3:59 pm | 18 Dec 2009

After nearly a year of debate, the U.S. House passed an historic overhaul of the nation’s financial system last week. Financial Services Chairman Barney Frank (D-Mass.) cracked down on the credit rating industry, which gave top grades to toxic investments at the core of the financial crisis. » Related Story: Barney Frank vs. the Credit Raters

UPDATE: A Guide to Financial Regulatory Reform Proposals

Posted: 2:44 pm Dec 10, 2009 by Amanda Zamora

Updated: 6:15 p.m., 18 Dec 2009

Historic legislation to restructure the financial regulatory system moved toward full House debate this week. Rep. Barney Frank (D-Mass.) has been a key proponent of the reforms, pressing an agenda that addresses how financial institutions deal with consumers, how credit rating companies grade financial products, and how privately-traded derivatives are regulated. The Senate Banking Committee, led by Sen. Christopher Dodd (D-Conn.) will begin fine-tuning its own broad reform package next month.  

In the meantime, here’s a guide to how the current bills in the House and Senate approach three major problem areas in the financial system. ( Printable version)

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