So, what new limits does the banking industry have to look forward to?
- A provision that would prohibit banks for making risky bets with their own funds
- A limit on the ability of federally insured banks to trade derivatives
- New rules for how capital flows through our economy, from loans to more complex banking products
- New consumer-protection regulators within the Federal Reserve, with the power to break up failing companies and assign regulators to monitor financial risks.
According to the article, Democrats are counting on tougher regulations to keep our financial system stable, and prevent another economic meltdown.
Of course, this is all speculation until the votes next week. Read the entire article here.