White House Backs House Financial Services Reform Bill

Posted December 8, 2009 at 3:23pm

The White House on Tuesday said it supports House passage of financial reform legislation authored by House Financial Service Chairman Barney Frank (D-Mass.). House Democratic leaders hope for a floor vote on the legislation before the end of the week.“The Administration strongly supports House passage of H.R. 4173,— the White House said in a Statement of Administration Policy. “The President has called on the Congress to enact far-reaching financial reform legislation to overhaul the Nation’s financial system in the wake of the financial collapse last year, setting forth clear objectives and principles that were endorsed by Congressional leaders.— But the White House added: “As with any legislation of this scale and complexity, the Administration looks forward to continuing to work with Congress, as financial reform moves through the legislative process, to continue to strengthen key provisions and to achieve successful comprehensive reform.—