Report: Reorganize regulation of financial system Premium Content

Treasury plan would eliminate chartered thrifts

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The Bush administration has put forward a sweeping plan for reorganizing the regulation of the financial system that would include national licensing standards for mortgage brokers and the elimination of federally chartered thrifts.

Many of the major aspects of the plan unveiled today by Treasury Secretary Henry Paulson would require congressional approval, and are not likely to be achieved during President Bush's final year in office, Paulson acknowledged.

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