Financial Regulatory Reform. The Senate version of this legislation (which has the same bill number as the House version, H.R. 4173) would create a new consumer financial watchdog (a \”Consumer Financial Protection Agency\”) run by the Federal Reserve and in general give the Fed more power to intervene in and regulate the financial sector.
The Senate passed H.R. 4173 on May 20, 2010 by a vote of 59-39 (Roll Call 162). We have assigned pluses to the nays because more government control of the economy will do more harm than good.
