Congress Passes Sweeping Financial Reform Bill
In an effort to prevent another financial crisis, Congress recently passed the biggest overhaul of U.S. financial regulations since the 1930s. On June 30, 2010, the House of Representatives approved the reform bill by a 237-192 margin. On July 15, 2010, the Senate passed the bill 60-39. President Obama is expected to sign the bill into law within a matter of days, at which point the bill will become the Dodd-Frank Wall Street Reform and Consumer Protection Act.