Regulators, Once Deemed Lax, Get Big Say On Rules

Summary

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WASHINGTON - Banking regulators shared the blame for the financial crisis that buckled Wall Street. Now they're the ones lawmakers are counting on to give final shape to the new overhaul of financial rules.

In section after section of the massive 1,560-page Senate bill, lawmakers leave much of the details for the regulators to figure out. These are the bank and market overseers - the Federal Reserve, the Office of the Comptroller of the Currency, the Securities and Exchange Commission - who took a beating for not overseeing Wall Street more strictly and for failing to see the danger before it struck in 2008.

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Extract

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Regulators, Once Deemed Lax, Get Big Say On Rules

When it comes to key decisions about how to rein in complex, previously unregulated ...

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