Democrats To Unveil Financial Regulations
Senate Democrats are expected to unveil new proposals Monday aimed at overhauling regulations for banks and other financial institutions. It's been two years since the peak of the financial crisis, and lawmakers have yet to decide how to manage the industry. The new measures would give the Federal Reserve new power to examine the very largest banks.
RENEE MONTAGNE, host:
NPR's business news starts with a new battle over bank regulation.
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MONTAGNE: Senate Democrats are expected to unveil new proposals today aimed at overhauling regulations for banks and other financial institutions. It's been two years since the peak of the financial crisis, and lawmakers have yet to decide on how to manage the industry. The new measures would give the Federal Reserve new power to examine the very largest banks.
The proposal would also boost the Fed by setting up a new division inside the central bank. It would protect consumers from risky financial products.
LINDA WERTHEIMER, host:
Meanwhile, the financial industry marches on in its search for more growth and more profit.
Today, Reuters news agency reports that one of the biggest U.S. mutual fund companies is in advanced talks to buy a leading Chinese financial firm. T. Rowe Price is reportedly aiming for a stake in a company called China Asset Management. The deal could be worth more a billion dollars. If it takes place, T. Rowe Price would join other Western-fund companies who are expanding in Asia and trying to tap a growing market of middle-class investors. Transcript provided by NPR, Copyright National Public Radio.
