Bloomberg to seek tighter financial industry regulations: New York Times

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FILE PHOTO: Democratic U.S. presidential candidate Michael Bloomberg addresses a news conference after launching his presidential bid in Norfolk, Virginia, U.S., November 25, 2019. REUTERS/Joshua Roberts/File Photo

WASHINGTON (Reuters) – U.S. Democratic presidential candidate Michael Bloomberg on Tuesday will unveil his plan to overhaul the U.S. financial industry by taxing financial transactions and strengthening consumer protections, the New York Times reported.

The plan will also call for merging government-sponsored housing finance giants Fannie Mae and Freddie Mac, and tightening banking regulations such as the Volcker Rule, the Times said.

Writing by Susan Heavey; Editing by Chizu Nomiyama

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