US Senate sweeping proposal to reform Wall Street

The US Senate has passed a bill providing the most sweeping overhaul of financial regulations since the 1930s.

You can read about it here http://news.bbc.co.uk/2/hi/business/10134766.stm

Is it going to affect retail fx trading in any way?

I haven't seen anything related to Forex yet, but...
it does potentially create the Consumer Financial Protection Agency...

as if we don't already have enough regulatory bodies pointing fingers and looking for scapegoats,[ NASD, CFTC, NFA, SEC] ....(or "protecting us" from ourselves).

It still has a House-Senate vote upcoming, the politicians hoping before July 4. I'd give it a year for staffing and hoopla, before they wake up and try to mess with Forex.

Right now, there are so many other distractions, which have been good for us (meaning, they forgot about Forex)

High Frequency Trading, Goldman Sachs, general US equities correction