ProPublica has a fantastic piece on all the moving parts, regulations and discussions that are forming around the Financial Regulation Bill.
Here are some of the subheaders (which should give you a taste):
- Regulators discuss how to shift away from reliance on credit rating agencies. (Always a good thing.)
- The FDIC is restructuring. (Ditto)
- The Consumer Financial Protection Bureau is still headless. (This should be temporary.)
- The big banks are contemplating the most profitable way to comply with the Volcker Rule. (Are you surprised?)
- Oil companies don't like the part of financial reform that affects them. (See note above.)
- A Congressional committee will take another look at the SEC FOIA exemption. (Interesting read. FoxBusiness is involved, and not necessarily the bad guy for one.)
Of course, the devil is in the details, and that's why you should read the ProPublica piece.