by Calculated Risk on 6/16/2009 09:52:00 PM

The WaPo has the document: Near-Final Draft of Document on Regulatory Overhaul (pdf)

From the WaPo: Financial Regulatory Overhaul Is Detailed

The plan is an attempt to overhaul an outdated system of financial regulations, according to senior administration officials.

It would vastly increase the powers of the Federal Reserve ... It also would create a new agency to protect consumers of mortgages, credit cards and other financial products.

President Obama is expected to formally unveil the proposal [Wednesday]. The administration also plans to release an 85-page white paper detailing the plans and justifying each element as a direct response to the causes of the financial crisis.
...
The proposed Consumer Financial Protection Agency would have broad authority to regulate the relationship between financial companies and consumers of mortgage loans, credit cards, checking accounts and other financial products. It would define standards, police compliance and penalize delinquent firms. Other agencies, particularly the Federal Reserve, would surrender some powers.

From MarketWatch: Fed may become systemic regulator, hike capital requirements

The proposal will also call for the elimination of the Office of Thrift Supervision and the Federal Thrift Charter, subsuming the agency into a new "National Bank Supervisor," agency based on the Office of Comptroller of the Currency that will supervise all federally chartered depository institutions.