Page 2 - Check Cashers News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Budget in a couple of years. and since taking office, mr. obama is also pushing financial regulatory reform at a bank house and senate con terees for an agreement reached in the wee hours of the morning. >> we're poised to pass the toughest financial reform since the aftermath of ones in the great depression. early this morning, the house and senate reached an agreement on wall street reforms that represents 90% of what i proposed when i took up this fight. >> reporter: some experts disagree. >> we're headed the same direction as greece. we have a whole lot more leeway to avoid that crisis and...

The key test and chairman frank said the same thing this morning, the key test is is it strong enough to write and enforce rules that apply to banks but to payday lenders, check cashers, to make sure you're capturing where the abuse was greatest. >> a damning report came out from the inspector general. he said it was misguided in the beginning. they see a potential for a wave of redefault if you will. is that program a mistake or at least in the implementation of it a mistake? >> there's much more stability now. that's hugely important to the stability it all americans. a million americans are...

Legislation should be administered by an independent agency. the regulators are there to worry about the saved and standards of the banks, because of that being their preoccupation, they tend to undervalue consumers. what we did find was the major advocate consumers were at the state level of the attorneys general. that's why the president correctly picked a former state attorney general to head the agency, mr. cordray. what we did was to say here's the deal. we'll take the powers that now exist and give them to an independent agency that isn't going to be influenced by the banks the we also s...

Budget in a couple of years. and since taking office, mr. obama is also pushing financial regulatory reform at a bank house and senate con terees for an agreement reached in the wee hours of the morning. >> we're poised to pass the toughest financial reform since the aftermath of ones in the great depression. early this morning, the house and senate reached an agreement on wall street reforms that represents 90% of what i proposed when i took up this fight. >> reporter: some experts disagree. >> we're headed the same direction as greece. we have a whole lot more leeway to avoid that crisis and...

Latest updates on this topic from reliable sources.