Obama to announce financial system overhaul, extension of federal benefits to gay partners
By APWednesday, June 17, 2009
Obama to detail overhaul of finance regulations
WASHINGTON — President Barack Obama will unveil his proposal to overhaul regulations covering major financial institutions.
He is calling for a new regulatory agency and expanded powers for the Federal Reserve to supervise large financial insittions considered too big to fail. A draft of the administration’s plan obtained by The Associated Press includes protections for credit card and mortgage holders.
Later, Obama will sign a memorandum extending benefits to same-sex partners of federal employees. The extension follows recent complaints from gay supporters that the White House has been slow to respond to their priorities.
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