Hearing on Dodd-Frank Rules

Senate Banking Committee to grill regulators on progress on rule-making.

Regulators implementing the Dodd-Frank Act face questions from U.S. lawmakers today over progress on required new rules, including provisions of a proposal to bar Wall Street firms from proprietary trading.

The Treasury Department, Federal Reserve and other financial regulators have spent more than a year drafting rules required by the law, which also includes new regulations for the $708 trillion global swaps market, tools to wind down failing financial firms and enhanced supervisory powers over the largest and most interconnected companies.

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