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 Home > News & Policies > September 2006

For Immediate Release
Office of the Press Secretary
September 29, 2006

President Signs S. 3850, the "Credit Rating Agency Reform Act of 2006"

On Friday, September 29, 2006, the President signed into law:

S. 3850, the "Credit Rating Agency Reform Act of 2006," which establishes a registration system to be administered by the Securities and Exchange Commission for treatment of credit rating agencies as "nationally recognized statistical ratings organizations."

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President George W. Bush signs S. 3850, The Credit Rating Agency Reform Act of 2006, in the Oval Office Friday, Sept. 29, 2006. Standing with President Bush are bill sponsors Senator Richard Shelby, R-Ala., left, and Representative Mike Fitzpatrick, R-Pa. The legislation removes the Securities and Exchange Commission from the process of approving certain rating agencies as nationally recognized statistical rating organizations. White House photo by Eric Draper