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Politics

: PR Watch

Bank Reform Passes, Is the Party Over?

By Mary Bottari

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Today, the House voted on a long-awaited financial reform package. House Speaker Nancy Pelosi announced: 'The legislation says very clearly to Wall Street: the party is over.' But is it?

The strongest part of the bill is the section that creates a Consumer Financial Protection Agency, which will crackdown on abusive lending practices for everyday financial products like mortgages, credit cards, and more. Abusive mortgage lending was a key cause of the economic meltdown and the new agency will help nip it in the bud.

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Full post as published by PR Watch on December 15, 2009 (boomark / email).

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