Frank Packages Financial Bills For Quick Consideration

House Financial Services Committee Chairman Barney Frank has bundled 9 major pieces of financial services legislation in one 1,279-page bill, H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009.

The measures squeezed into the bill include the Financial Stability Improvement Act, which could add a layer of “systemic risk” regulation for large insurers; a capital markets section, which includes sweeping changes in the laws governing rating agencies; and the Federal Insurance Office legislation.