President Obama to detail overhaul of finance regulations - WAOW - Newsline 9, Wausau News, Weather, Sports

President Obama to detail overhaul of finance regulations

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WASHINGTON (AP) -- 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.

Online Reporter: Donnie Forti

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