HONOLULU (HawaiiNewsNow) President Obama is expected to sign the financial overhaul bill next week. When it becomes law, it will set the stiffest restrictions on banks and Wall Street since the Great Depression.
The bill cleared the Senate by a 60 to 39 vote. Both Hawaii Senators Daniel Inouye and Daniel Akaka voted in favor of the bill. Akaka even added a few "consumer protection provisions."
"For me this bill will bring education financially to the people of our country, it has consumer protection for the people of our country and it beings commercial empowerment to the people of our country," Akaka said.
Under the bill, the government will get new powers to break up companies that threaten the economy and there will be a new agency to protect consumers.