Dodd-Frank Derivatives Debate Reopens on Proposed Delay of Rules
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U.S. House lawmakers are battling over rules to expand oversight of the $583 trillion swaps market as Republicans aim to delay the measures required by the Dodd-Frank Act until the end of next year.
The House Financial Services Committee is scheduled to take up a proposal to push back deadlines for derivatives rules under the regulatory overhaul, measures designed to govern a market dominated by big banks including Goldman Sachs Group Inc. and JPMorgan Chase & Co. The House Agriculture Committee approved the measure last week on a party-line vote.