‘Foong on Finance’ with Keat Foong: Financial Legislation Signed into Law
- Jul 23, 2010
So this week President Obama signs into law the financial reform bill, the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The new set of laws supposedly provides for: increased regulation of the financial industries–tightening oversight of the derivatives market–and consumer protections in the use of financial products. It is purported to put into place procedures to help avoid future tax-payer-funded bank bailouts. And it increases capital requirements for banks.
Read some comments about the bills here. And our sister publication Commercial Property Executives earlier discussed (“Upward Climb,” p. 30) the bill’s possible effects on the commercial real estate market specifically. In particular, lenders were required in the House bill to have more “skin in the game” in CMBS, which could mean more careful lending.