Dodd-Frank repeal argument is cast as deficit reduction

04/24/2012 | AmericanBanker.com (subscription required)

Bipartisan disagreement about the Dodd-Frank Act has now become part of the debate about how to reduce the federal deficit. Nineteen Democrats on the House Financial Services Committee signed a dissent to a Republican proposal to repeal a Dodd-Frank provision giving regulators the authority to wind down large firms. Republicans say the measure would save $30 billion over 10 years, while Democrats say the law requires firms to cover the costs of a liquidation.

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