Modern Business

Archive for May, 2010

Financial Sector Reform Bill on the United States had entered the desk of President Barack Obama and is expected to be signed and ratified next week.

“After beating the level the Senate yesterday and escaped at the Congress a few weeks ago, the bill was now on the table the president,” wrote White House press statement quoted Bisnis.com from his official site, today.

Bloomberg reported the U.S. Senate approved the bill on reforming the financial sector will trigger a financial industry to making approaches to a number of regulatory bodies charged with preparing detailed rules. They will attempt to adjust the rules to the interests of industry.

“Implementation of this legislation will be a challenge. We are ready to cooperate with regulatory bodies to ensure that they have sufficient information to ensure the regulatory process is run effectively and efficiently as possible, “Edward said Yingling, president of the American Bankers Association, in a written statement which also showed disappointment over the bill. Read the rest of this entry »