Among the provisions: - Creates a new independent watchdog,
housed at the Federal Reserve, with the authority to ensure
American consumers get the clear, accurate information they need
to shop for mortgages, credit cards, and other financial
products, and protect them from hidden fees, abusive terms, and
deceptive practices. - Eliminates loopholes that allow risky and
abusive practices to go on unnoticed and unregulated — including
loopholes for over-the-counter derivatives, asset-backed
securities, hedge funds, mortgage brokers and payday lenders. -
Provides shareholders with a say on pay and corporate affairs
with a non-binding vote on executive compensation and golden
parachutes. - Provides tough new rules for transparency and
accountability for credit rating agencies to protect investors
and businesses. - Strengthens oversight and empowers regulators
to aggressively pursue financial fraud, conflicts of interest
and manipulation of the system that benefits special interests
at the expense of American famil