Securities Law Updates | New Proposed Legislation
July 1, 2010
House Passes Historic Financial Reform Legislation
Dodd-Frank Wall Street Reform and Consumer Protection Act
H.R. 4173, 6/30/2010
By a vote of 237-192, largely on party lines, the U.S. House of Representatives has approved a landmark legislation that boldly seeks to restore responsibility and accountability in the country’s financial system
The vote came after months of acrimonious debate over legislation that went through various amendments. Earlier, the House Financial Services Committee released a report outlining the major features of the bill that is expected to be considered by the Senate after the Independence Day holiday.
In the course of the hours-long debate just before the historic vote, House Speaker Nancy Pelosi made a strong pitch for the bill’s…
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