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.

Read this complete analysis of the impact at AdvisorFX (sign up for a free trial subscription with full access to all of the planning libraries and client presentations if you are not already a subscriber).

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

 Email This Post
This entry was posted on Monday, May 16th, 2011 at 5:01 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.