Lawmakers reach deal on liability standard for rating agencies

06/16/2010 | Wall Street Journal, The

Lawmakers negotiating the final version of the regulatory overhaul had considered a broad liability standard for credit rating agencies but opted for a narrower version because of concern from the industry. Negotiators said investors would be able sue rating firms if their assessments of financial products are found to be "grossly negligent."

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Wall Street Journal, The

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