The the financial regulatory bill aka the "Restoring American Financial Stability Act of 2010", "Wall Street Reform Act" or Dodd-Frank bill passed today 60-39 by the Senate and is headed to President Obama for signature. The House of Representatives passed the bill last month 237-192. The bill is 1,616 pages long. Here is the summary and the full embedded PDF file after the jump. You can also find the full H.R.4173 bill in HTML format at the Library of Congress (Thomas). This is big time regulation.
(H.R. 4173) entitled ‘‘An Act to provide for financial regulatory reform, to protect consumers and investors, to enhance Federal understanding of insurance issues, to regulate the over-the-counter derivatives markets, and for other purposes.’’.
Another summary from OpenCongress.org:
"This is comprehensive legislation to overhaul regulations in the financial sector. It would establish a new Consumer Financial Protection Agency to regulate products like home mortgages, car loans and credit cards, give the Treasury Department new authority to place non-bank financial firms, like insurance companies into receivership, regulate the over-the-counter derivatives market, and more."
Financial Regulatory Reform Bill 2010