Is Barney Frank’s Resolve to Implement Dodd-Frank Weakening?Posted May 16th, 2011
Facing the onslaught of Republican legislative attempts to weaken Dodd Frank, Barney Frank (D-MA) seems unconcerned. His unwillingness to push for the prompt implementation of Dodd-Frank suggests that his resolve is weakening. And in recent weeks, Representatives have used the implementation lull to introduce a handful of bills that, if passed, would repeal or delay parts of the Dodd-Frank Wall Street Reform Act.
Dodd-Frank implementation was originally scheduled for July 21, but Mr. Frank has no problem allowing agencies additional time to translate the hundred-something provisions of the reform into regulations. “There’s no gun at their heads. Nobody gets fired,” he stated.
But delaying implementation could give the Republicans time to repeal Dodd-Frank one provision at a time.
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For previous coverage of Dodd-Frank financial reform in Advisor’s Journal, see Republicans Look to Erode Dodd-Frank (CC 11-75).
Tags: Barney Frank, Dodd–Frank Wall Street Reform and Consumer Protection Act, Federal Open Market Committee, Federal Reserve System, Massachusetts, Republican, United States, United States House Committee on Financial Services