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Swap Regulators Face Congressional Push to Curb Dodd-Frank

U.S. regulators face renewed pressure from congressional lawmakers who voted today to ease Dodd-Frank Act derivatives requirements amid criticism from Wall Street and overseas officials that the rules overreach.

The House Financial Services Committee advanced nine measures that would allow more swaps to be traded in units of banks such as JPMorgan Chase & Co. and Citigroup Inc. that hold government-insured deposits. One measure would force U.S. regulators to determine the cost of new Basel III capital charges on banks’ swaps with corporate clients.