Obama touts sweeping overhaul of financial rules becoming law Wed. as victory for consumers
By Jim Kuhnhenn, APWednesday, July 21, 2010
Obama touts new rules as victory for consumers
WASHINGTON — President Barack Obama says a sweeping new overhaul of financial regulations represents a triumph for consumers.
Obama spoke Wednesday before signing the legislation that creates a new consumer protection bureau and a host of regulations on banks and financial markets.
The bill is a signature achievement for Obama and congressional Democrats nearly two years after Wall Street’s failures knocked the economy into a spiraling recession.
Obama was signing the bill into law in a ceremony at the Ronald Reagan Building, with scores of consumer advocates, government officials and business owners looking on.
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