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House Ready To Consider Insider Trading Ban

House Majority Leader Eric Cantor is wasting no time in acting on Senate-passed legislation to explicitly bar members of Congress and thousands in the executive branch from insider stock trading.

Cantor says it's critical that the same rules apply to administration officials and members of Congress. Earlier, Cantor had said he might strengthen the bill to include land deals and other types of transactions.

President Barack Obama says he will sign the legislation as soon as it reaches his desk. The Senate passed the bill 96-3 on Thursday, in a rare display of bipartisanship.

The bill requires covered officials to post any new transactions online within 30 days.


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