House OKs Rating Agency Bill

Hume, Lynn
July 2006
Bond Buyer;7/13/2006, Vol. 357 Issue 32422, p1
Trade Publication
The article reports on the U.S. Congress' approval of legislation designed to foster competition, transparency and accountability for credit rating agencies. The 255-166 vote came largely along party lines with support from only 31 Democrats, no Republicans voted against the measure. The legislation would scrap the Security and Exchange Commission's system of designating rating agencies as nationally recognized statistical rating organizations.


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