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Universidad Piloto de Colombia
Facultad de Ingeniería Financiera
José Luís Zea Salamanca
Riesgo Financiero
Bogota, 24 de Agosto de 2010

Analysis of Financial Reform Government Obama 2010Last July President Barack Obama signed the law on financial reform which simplifies its economic thinking saying “This reform is the most protective of the story to consumers of financial products”,placing the financial sector regulators mission to protect the interests of citizens and not big banks, not the lenders, not the investment firms.Asserting that “The American people will never have topay the bill for the mistakes of Wall Street”.

To summarize the main points of this law seeks to real reform in the traditional way of acting of the U.S. financial sector and how to run the businesson Wall Street and redefine the role of financial regulators focused on protection of consumers and applicants financial products to enable trust in this sector depressed by the economic crisis notonly U.S. but worldwide, strengthening economic growth and job creation.

To be effective this reform before the Senate of the United States and ensuring the execution of the Concessions were madewith bank intermediation sector in their development covering topics of interest to all groups involved.

In conclusion, the points agreed in the law are:

1. Consumer protection is created inthe Federal Reserve an agency with the authority and independence to ensure that consumers receive clear and accurate information about the terms associated with financial products such as mortgages,credit cards or student to prevent abuse of consumers.

2. Early warning: the U.S. Treasury will form a council that will identify potential risks to the system that could threaten the economy.With Treasury Secretary presiding, shall consist of the 10 regulators of the financial system (including the Fed (Federal Reserve), the FDIC (Federal Deposit Insurance Corporation) and SEC (Securities...
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