House panel approves bill to bolster rating-agency rules

10/28/2009 | Washington Post, The

The House Financial Services Committee has approved legislation drafted by Rep. Paul Kanjorski, D-Pa., that aims to address concerns raised by the global financial crisis regarding the role of credit rating agencies. Rating agencies have been criticized for giving some securitized products overly generous ratings. The bill would also give investors a leg up in lawsuits involving unjustified ratings.

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