Rep. Judy Biggert (R-Ill.), the subcommittee ranking member, also questioned the ability to define nonpublic information and the practical application of passing such a law.
But, supporters of the bill say that the details can be worked out and that now is the time to enact legislation.
The [bill] is very significant, especially given the federal government is now becoming a controlling partner in the financial services sector, Public Citizens Craig Holman said.
Public Citizen, U.S. PIRG and others sent letters in support of the bill on Monday.
Additionally, Holman said he will be lobbying to help boost the number of co-
sponsors. It is an important piece of legislation to get through before we see any real obvious scandals, he said.
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