Is Barney Frank’s Resolve to Implement Dodd-Frank Weakening?
Posted by William Byrnes on September 1, 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 to launch July 21, but Mr. Frank has no reservations against allowing agencies more time to translate the abundant volume of provisions of the reform into regulations. “There’s no gun at their heads. Nobody gets fired,” he stated.
However, by allowing for this delay, Mr. Frank risks giving 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 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).
This entry was posted on September 1, 2011 at 06:00 and is filed under Wealth Management. Tagged: Barack Obama, Barney Frank, Dodd–Frank Wall Street Reform and Consumer Protection Act, Government, Republican Party (United States), United States, United States House Committee on Financial Services, Wall Street. 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.
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