Obama to propose sweeping regulatory overhaul Wednesday

06/15/2009 | Wall Street Journal, The

President Barack Obama's proposed revamp of the financial-regulatory framework is expected to reach into every corner of the financial system. The plan includes giving the Federal Reserve authority to oversee the largest, most systemically important financial institutions and establishing a regulatory agency for consumer protection related to financial products. Lawmakers are expected to object to several of the proposal's more controversial ideas.

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