Sweeping Financial Bill Jumps Hurdle

from National Public Radio

The Senate passed a sweeping overhaul of financial regulations Thursday night. The bill now moves to a conference committee where it will be reconciled with a House version. The bill passed by the Senate would establish a council to regulate systemic risk and create a new consumer-protection agency within the Fed. It would place restrictions on proprietary trading at banks and boost the government's ability to wind down a failing institution, as well as increase oversight of derivatives trading. John Ydstie

Broadcast Dates

• All Things Considered, May 21, 2010