The chairman of the House of Representatives financial services committee said on Monday that Congress can complete a regulatory reform overhaul by the end of this year.
Barney Frank said Democrats were committed to regulatory reform that protects consumers, and should use their congressional majority to ensure passage of financial rules that allow innovation but curtail abuse.
It is a responsibility for us as Democrats, Frank said at the National Press Club in Washington. I am giving us this responsibility because I am confident we are going to meet it. I believe you are going to see by the end of this year a package of regulatory reform.
(Editing by Leslie Adler)