House passes delay of Dodd-Frank, faces Senate oppositionPosted by RJ and Makay on May 26, 2011 |
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Almost one year after the Dodd-Frank Wall Street Reform and Consumer Protection Act was passed, the House of Representatives is now working to delay its implementation to make sure regulators apply serious cost-benefit analysis to proposed regulation.
Earlier this month, the U.S. House Agricultural Committee advanced legislation to delay implementation of new rules that would govern derivatives markets. The Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) were given a July 21, 2011 deadline to write many of the new rules. Both agencies have said they will likely miss the deadline.
