Money Matters - Simplified

stricter banking laws

Bernanke presses Congress for reforms

Chatham, Mass. -- U.S. Federal Reserve Chairman Ben Bernanke again called for regulatory reform, specifically prodding Congress to back up regulators with stricter banking laws.

"Regulators and supervisors can do a great deal, but comprehensive financial reform requires action by the Congress," Bernanke said in Chatham, Mass., in remarks prepared for the Federal Reserve Bank of Boston's 54th Economic Conference.

Bernanke steered away from remarks on current bank policy, despite investor interest in moves the Open Market Committee might make while the economy pulls itself out of a deep trough.