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Financial Regulatory Reform Policy Update (Preliminary)
December 14, 2009

On December 10, 2009, the U.S. House of Representatives voted 223 – 202 to approve a comprehensive financial regulatory reform proposal entitled “The Wall Street Reform and Consumer Protection Act” (H.R. 4173). The legislation was supported by Democrats (223 – 27 and unanimously rejected by Republicans (0 – 175). As described in greater detail below, HR 4173 would overhaul the financial services regulatory system and make significant changes to the oversight of banks and other financial institutions. The following is a preliminary summary of the proposal based on an initial review. Further analysis will be included in a follow-up report.

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