Top Democrat on Senate panel: No rollback on Dodd-Frank because it works
Source: Reuters
Tue Mar 21, 2017 | 11:55am EDT
By Pete Schroeder
The top Democrat on the U.S. Senate Banking Committee told bankers gathered in Washington on Tuesday that his party would not support drastic changes to the Dodd-Frank financial reform law.
Sen. Sherrod Brown said he was eager to work on areas of bipartisan agreement, but made clear big changes to Dodd-Frank, created after the 2008 financial crisis, do not fit that bill.
"What we will not do is a wholesale rollback of Dodd-Frank," he said at an American Bankers Association conference. "That would be counterproductive... the law is working."
Brown argued that significant changes to the 2010 law, which Republicans are seeking, would actually be problematic for the banking industry, even as he expressed a willingness to revisit specific parts of financial rules.
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