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Senate Set to Resume Voting on Financial Reform with Tough Proprietary Trading, Capital Proposals

May 11, 2010 in Banking Report · Leave a Comment 

The Senate May 11 will again take up the Restoring American Financial Stability Act of 2010 (S. 3217) as a multitude of amendments await action, including calls for more limits on proprietary trading and a proposal, backed by Federal Deposit Insurance Corporation Chairman Sheila Bair, for tougher capital standards.

Senators are expected to lead off with action on an amendment by Sen. John McCain (R-Ariz.) that would end government ownership of Fannie Mae and Freddie Mac in two years, likely followed by a vote on a modified amendment by Sen. Bernard Sanders (I-Vt.) on audits of the Federal Reserve Board.

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