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Consumer Law

: CL&P Blog

The Latest on Financial Reform

By Brian Wolfman

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First we hear that the Senate financial reform bill will kill off the idea of an independent Consumer Financial Protection Agency and instead create a new bureau or division within the Federal Reserve (or is it in the Treasury Department?). And yesterday, the Washington Post reported that another key provision of the bill requiring brokers and insurance agents to act as fiduciaries (that is, in the best interest of their clients) is likely to be stripped after lobbying by the brokerage industry. That provision will probably be replaced by one requiring the Securities and Exchange Commission to study the issue.

Full post as published by CL&P Blog on March 08, 2010 (boomark / email).

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