On May 20, 2010, the US Senate passed its version of comprehensive financial services reform legislation, the “Restoring American Financial Stability Act of 2010” (the “Senate Bill”). The Senate Bill, coupled with the House of Representatives’ action last December passing its version of financial reform legislation, the “Wall Street Reform and Consumer Protection Act of 2009” (the “House Bill”), is about to enter a formal House-Senate conference to resolve differences between the two bills.

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