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House to vote on bills to repeal Dodd-Frank derivatives provisions

The House Financial Services Committee will vote on Wednesday on a series of bills that would amend provisions in the Dodd-Frank Act related to derivatives. One bill, introduced by Rep. Scott Garrett (R-N.J.), would prohibit financial regulators from obligating swap execution facilities from having a certain number of participants,... Read More...

CFPB asks public for help with inherited regulations

Faced with the task of streamlining regulations inherited from other federal agencies, the Consumer Financial Protection Bureau is asking the public for suggestions. In a recent notice for a request for information, the CFPB asked the public to provide it with a list of its inherited regulations ranked in order of what should be the... Read More...

BNY Mellon CEO wants regulators to hold off on new regulations

BNY Mellon CEO Gerald Hassell recently said during a speech to the Boston College Chief Executives’ Club that regulators need to take a break from writing new rules for the financial industry. to said that regulators need to give the industry a chance to adjust with what has already been written before proceeding to new rules,... Read More...

Barney Frank to retire

After 45 years, Rep. Barney Frank (D-Mass.) is retiring from his political career and is taking jabs at his opponents on his way out. Although Frank admitted that redistricting in Massachusetts would have made his reelection difficult in 2012, he also said he was tired of the partisan politics, according to NYTimes.com. The constant... Read More...

Frank’s departure leaves Dodd-Frank vulnerable

After Rep. Barney Frank’s (D-Mass.) retirement, Democrats will have to battle Republicans who are set on repealing last year’s Dodd-Frank Act and loosening the new regulations on the financial industry. “There was no greater champion for Wall Street reform than Barney Frank,” Michael Greenberger, a former official... Read More...

Merchants disappointed with Durbin Amendment savings

Merchants are receiving their first bills since the Durbin Amendment went into effect and many say they are disappointed with how much they continue to owe banks and credit card issuers. Some business owners claim that they owe more now than they have before, according to WSJ.com. The savings that merchants looked forward to have been... Read More...

CFTC to vote on rule opposed by MF Global

The Commodity Futures Trading Commission will vote on Dec. 5 on a rule that would eliminate ability of brokerage firms to invest customer funds. "I think we have seen and heard quite enough on this rule and I have urged that we move forward on it at the very earliest opportunity," Bart Chilton, a Democratic commissioner at the... Read More...

Huntsman wants to end too big to fail

Republican presidential primary candidate Jon Huntsman has unveiled a plan to reduce the size of banks that are considered to be too big to fail. While other primary candidates have called for a repeal of the Dodd-Frank Act, Huntsman’s plan calls for a shutdown of Fannie Mae and Freddie Mac, reducing bank leverage and repealing... Read More...

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