Obama is expected to sign the legislation into law next week, and the focus now switches to how the new regulations will be implemented in the coming weeks and months. The legislation will give financial regulators significant discretion in shaping the rules.
The legislation also puts faith in regulators to spot developing problems in the financial system, and gives them the authority to act to attempt to prevent another financial crisis. The bill calls for banks to hold more money in their reserves to prepare for bad economic situations, but the details of how this will be done are also up to regulators.
This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
