More On

Regulators assure Congress on Wall Street crackdown

Members of a new inter-agency council, set up under 2010's Dodd-Frank reforms, told the U.S. Senate Banking Committee on Thursday that they will take more time to figure out how to select banks, insurers and hedge funds for extra-strict government policing.

Republicans have pushed to delay and weaken Dodd-Frank, concerned that a regulatory over-reach will restrict credit and harm U.S. competitiveness. But Democrats have defended the need to prevent the excessive risk-taking linked to the 2007-2009 financial crisis, setting the tone for a debate that will continue up to and beyond the 2012 presidential election.

Read the full Reuters story, "Regulators assure Congress on Wall Street crackdown."

Contributing Author

Join the Conversation

Advertisement. Closing in 15 seconds.