U.S. lawmakers and lobbyists who once backed repeal of the 2010 Dodd-Frank Act are now pushing for technical fixes to the law, and they're getting a skeptical reception from the measure's advocates.
While some alterations to the act have bipartisan support in Congress, many Democrats say they remain wary of measures that might undermine the law that created the Consumer Financial Protection Bureau and mandated regulations to curb risky behavior by financial institutions deemed too big to fail.
“There is general agreement that technical corrections on an 800-page bill would be appropriate,” said Lauren Kulik, a spokeswoman for Senator Sherrod Brown, a Democrat from Ohio and a member of the Senate Banking Committee. At the same time, she said, Dodd-Frank supporters worry that a technical change could “morph into a substantive change.”
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