Forbes: financial reform influence is not big

U.S. Congress July 15 of the financial sector reform bill passed the final version of President Obama (Barack Obama) will be in a few days to sign the bill became law. But the bill for the relatively limited impact of the financial sector, and selected according to Obama in charge of candidates for the new regulatory body, and the existing regulatory bodies in the next few years to implement and enact new legislation, the bill's influence may be further weakened.
"Restore financial stability in the United States Bill" (Restoring American Financial Stability Act, RAFSA) did not provide a complete blueprint, outlined the scope of financial reform. The bill to the new regulatory regime left many important not finalized, without amendment of the details. It is estimated the bill at least 75% of the content has not yet finalized.
Consumer Financial Protection Agency (Consumer Financial Protection Bureau, CFPB). New Consumer Financial Protection Agency originally proposed the President than Barack Obama has been greatly diminished. Has a new emerging trends in consumer financial protection, so CFPB consumers should prefer the position of regulatory balance would be difficult to break; CFPB at the Federal Reserve (Fed) internally, rather than a structure entirely independent body, will be Obama President Ma appointed to lead independent director.
While in theory this streamlined structure allows the design and implementation of consumer-oriented organization, but the structural organization of various balance will prevent CFPB efficiency. Other regulatory bodies have the power to appeal the financial system they believe will endanger the health or stability of the CFPB decision.