Wall Street is poised to win a big victory in its lobbyingcampaign against the Dodd-Frank Act as lawmakers move to repeal aderivatives rule as part of a bill to fund the government.
Congress will vote this week on a bill that lets JPMorgan Chase& Co., Citigroup Inc. and other lenders keep swaps trading inunits with federal backstops. House and Senate negotiators agreedyesterday to give the break along with funding increases for theCommodity Futures Trading Commission and Securities and ExchangeCommission.
The change, which is included in a broader funding bill, hasbeen criticized by Democratic senators including Elizabeth Warrenof Massachusetts and Sherrod Brown of Ohio.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
