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Obama urges regulators to enact Wall Street rules


August 19. 2013 5:37PM
Associated Press



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(AP) Three years after President Barack Obama signed a sweeping overhaul of lending and high-finance rules, scores of regulations are yet to be written, let alone enforced. In a private meeting on Monday, the president prodded bank regulators to execute the law swiftly.


The president's push for action comes as the five-year anniversary of the nation's financial near-meltdown approaches. The law, when passed in 2010, was considered a milestone in Obama's presidency, a robust response to the crisis that led to a massive government bailout to stabilize the financial markets.


In a statement after the meeting, the White House said Obama commended regulators for their work but stressed the need to finish implementing remaining portions of the law promptly.


Associated Press


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