Hawaii's Sen. Daniel K. Inouye praised today's passage of the Financial Regulatory Reform Act, legislation that will "make money transactions more transparent and understandable."

"Not only will this bill prevent casino style behavior on Wall Street, it will shore up our consumer protections like never before," Inouye said in a statement. "This bill will ensure that banks, credit card companies, and other lending institutions provide clear, understandable terms and information for credit cards, loans, IRA's, mortgages, and other financing so that Hawaii's working families can make sound financial decisions."

The Senate passed the measure, 59-39, with Inouye voting in favor.