US to overhaul financial system

Mr Paulson’s speech is widely expected to include plans for a sweeping overhaul of the American financial system including broadening the powers of the US Federal Reserve Bank as a regulator of market stability.

According to The Wall Street Journal, Mr Paulson also plans to call for the creation of a mortgage origination commission that would create licensing standards for state mortgage companies.

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Written by Staff Reporter

Last Updated: 09 March 2022

Published: 31 March 2008