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.

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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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