Obama signs sweeping financial overhaul into law

July 21, 2010 9:00:41 AM PDT
President Barack Obama has signed into law an overhaul of banking and Wall Street regulations that he says will create the strongest financial protections for consumers in history. The law is a legislative victory for the president, who has made tightening restrictions on banks a signature issue since taking office amid the nation's financial meltdown. Obama says the reforms will end many of the Wall Street practices that sent the economy into the worst recession since the Great Depression.

In an ironic touch, Obama signed the bill in the Ronald Reagan Building, named after a president who championed deregulation.

Obama was joined by scores of consumer advocates, business executives and lawmakers who supported the bill.


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