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Dodd-Frank rule-writing, implementation still lagging

Nearly two years after the passage of the 2010 Dodd-Frank Act, federal regulators have only written and finalized 221 of the total 398 rules mandated under the legislation.

The Davis Polk Dodd-Frank Progress Report indicated that, as of June 1, 79 percent of the 280 rules with required deadlines have been completed while only 55 percent of all Dodd-Frank rules have been written, according to BankRate.com.

Of the 221 completed rules, 67 percent of deadlines were missed. Only 33 percent of the rules have been met with finalized rules. Regulators have not yet issued any proposals for 21 of the rules with missed deadlines.

The report revealed that several regulators have released details pertaining to at least 2,800 meetings with outside parties regarding the Dodd-Frank rules since July 2010, BankRate.com reports.

The Federal Deposit Insurance Corp., Office of the Comptroller of the Currency, and Federal Reserve are collectively responsible for 135 Dodd-Frank regulations, of which only 24 sets of rules have been written.

Of thee 135 rules for which the regulators are responsible, only 51 sets of rules have been proposed. Forty-seven sets of rules have not yet been proposed in advance of future deadlines, while seven sets have been proposed in advance of future deadlines. Six sets of rules have not been proposed and have missed their deadlines, according to BankRate.com.

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