financial reform

Senator Chris Dodd & Financial Reform

Senator Chris Dodd has introduced a massive bill on financial regulation reform. It is over 1100 pages and attached to this post. Below is a reprint from the summary of the major regulation bodies structure overhaul:

The Financial Institutions Regulatory Administration

  • Independent: Headed by an independent chairman appointed by the President and confirmed by the Senate, a Vice Chairman experienced in state banking regulation, and a board including the chairmen of the FDIC and the Federal Reserve and two other independent members. It will be funded primarily
    by assessments on the industry.