Treasury Department Proposes Major Reforms to Regulation of U.S. Financial System

On June 17, 2009, the U.S. Department of the Treasury released a proposal for legislative and regulatory changes that, if adopted, would effect major change to the U.S. financial system. Most, but not all, of the components of the proposal derive from, or relate to, the crisis that has beset the global economy. Legislation and regulations to implement the proposal are being drafted and considered by Congress and the relevant departments and agencies. The goal of the Obama administration and Democratic leaders is to have such legislation and regulation enacted and adopted by the end of the year.

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