Skip to content
Technology & Innovation

Market Forces

The House of Representative narrowly passed a sweeping financial reform bill that creates new government oversight boards; now the bill goes to the Senate.
Sign up for the Smarter Faster newsletter
A weekly newsletter featuring the biggest ideas from the smartest people

“The U.S. House of Representatives passed the most sweeping financial regulation bill since the Great Depression on Friday afternoon. The legislation is extremely ambitious. It seeks to create a new Consumer Financial Protection Agency (CFPA) to regulate consumer credit products, to create a systemic risk council, to provide the Federal Reserve the authority to function as the systemic risk regulator, to create a non-bank resolution authority, to provide better oversight of the derivatives market, and to reshape the financial market as we know it today. It’s an important first step in such legislation being written into law. But it’s only a first step, and there’s a lot of work left for Congress.”

Sign up for the Smarter Faster newsletter
A weekly newsletter featuring the biggest ideas from the smartest people

Related

Up Next