Consumer and retail industry leaders praise bill’s passage; San Diego’s Congressional delegation’s votes split down party lines
By Miriam Raftery
July 15, 2010 (Washington D.C.) – Moments ago, the U.S. Senate passed HR 4175, a landmark reform measure that “cracks down on corporate fraud and holds big banks accountable for reckless, risky behavior,” said Senator Patrick Leavy (D-Vermont), author of the bill which is expected to be signed into law by President Barack Obama later today.
Business Wire reports that National Retail Federation senior vice president Mallory Duncan praised passage of the bill, titled the Wall Street Reform and Consumer Protection Act. “This is a landmark step forward in protecting Main Street against the excesses of the banking industry,” he said.