[fullwidth background_color=”” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” border_size=”0px” border_color=”” border_style=”” padding_top=”20″ padding_bottom=”20″ padding_left=”0″ padding_right=”0″ hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=””][title size=”1″ content_align=”left” style_type=”underline solid” sep_color=”#000000″ margin_top=”” margin_bottom=”” class=”” id=””]House makes bid to roll back some Dodd-Frank regulations[/title][fusion_text]Monday, June 8th 2015
A House Republican bid to roll back some Dodd-Frank regulations through reauthorization of the Commodity Futures Trading Commission is running into a wall of Democratic opposition. The White House threatened this week to veto the bill (HR 2289), and only two Democrats voted Wednesday for the rule that sets terms for debate on the legislation. The House is expected to debate and vote on the bill itself next week. The ranking Democrat on the House Agriculture subcommittee that developed the legislation, David Scott of Georgia, was joined in supporting the bill’s rule by Kyrsten Sinema, D-Ariz. No Republican voted against the rule. The bill, which mirrors one that passed the House last year, would require CFTC to analyze the costs and benefits of all new rules and exempt grain elevators and other agricultural interests that are managing their own money from having to maintain records of all forms of communications that lead to a trade. Other provisions would limit capital requirements for non-bank swaps dealers; require the commission to provide a comprehensive plan addressing cross-border regulatory requirements; create a judicial review process similar to the one the Securities Exchange Commission has; and require the CFTC to follow a notice-and-comment process before issuing policy statements, guidance documents and interpretive rules that have the force of law.
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