Franken amendment ends credit rating conflict | Bemidji Pioneer

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Franken amendment ends credit rating conflict

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An amendment to remove conflicts of interest from credit rating by banks won bipartisan U.S. Senate support Thursday and will be included in Wall Street reform efforts.


The proposal, authored by Sen. Al Franken, DFL-Minn., establishes a Credit Rating Agency Board that would determine which credit rating agency would give a financial institution the rating for their bond.

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