Senator Sherrod Brown said a comprehensive revamp of the U.S. housing finance system won’t become law this year and called for simpler changes to Fannie Mae and Freddie Mac.
For almost five years, the head of a once obscure U.S. agency fought Wall Street to impose curbs on derivatives that helped ignite the 2008 financial crisis. His successor, Timothy Massad, must now decide how to finish the job.
U.S. regulators would gain flexibility in how they apply capital standards to insurance companies under a bill approved by the Senate.
"Today's ruling is an important step toward ensuring a level playing field for our workers and businesses."
- Sherrod Brown on Jul 11, 2014
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