New Financial Guidelines coming on down the Pike

From Forex to the stock trading world's convoluted deals, the current administration plans to add bold and fresh (and some say much needed and long overdue) guidelines for the United States's overstretched financial system under legislation put into motion earlier in the week, says numerous mainstream media sources.
It appears that these steps are designed to deal with the overall rollback on federal regulations which have happened over the past few decades and last several administrations, broadly speaking. There needs to be some form of easy to obtain non-profit credit counseling as well as different of Debt consolidation, Debt help, etc. Yet credit counseling, in particular, I strongly beleieve.
For instance, it is hoped that it will help to better organize the mixed bag of governmental agencies which currently monitor the financial sector. But it likewise may entail fundamental modifications in authority which could eliminate a regulatory agency, form another one and lower the profile of the juggernaut known as the Federal Reserve system.
These are fairly lofty and ambitious goals indeed. The newly formed agency, once constituted, would take over oversight of mortgages in particular and then mandate that the lenders give their customers more reasonable terms than previously in an attempt to prevent this kind of debacle in the future.
As an additional safegaurd measure, the lenders who repackage loans to investors would have to retain some five percent of the credit risk. This is a figure that certain industry analysts believe may be a bit low.
Generally speaking, the latest proposal made some consumer advocates happy but horrified the banking sector with its proposed formation of a regulator to insulate customers in their particular banking transactions.
Right now mutual funds are staying under the general authority of the Securities and Exchange Commission rather than the new agency.
All of these individual steps have been an effort to find a balanced, common ground somewhere between the relative pros and cons of the capitalist system.