Credit Rating Agency Regulatory Reform: A Side-by-Side Comparison of H.R. 2990 and S. 3850 (CRS Report for Congress)
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| Release Date |
Sept. 19, 2006 |
| Report Number |
RL33651 |
| Report Type |
Report |
| Authors |
Gary Shorter, Government and Finance Division |
| Source Agency |
Congressional Research Service |
Summary:
The congressional response to the perceived problems surrounding the NRSROprocess and its potentially undesirable consequences has led to the introduction oftwo bills in the 109th Congress. H.R. 2990 (Fitzpatrick), the Credit Rating AgencyDuopoly Relief Act of 2006, passed the House on July 12, 2006, in a vote closelydivided along partisan lines. Soon afterwards, on August 2, S. 3850 (Shelby), theCredit Rating Agency Reform Act of 2006, was voted out of the Senate Banking andUrban Affairs Committee with significant bipartisan support. This report compares the major provisions of the two legislative proposals.
