Federal agencies are scrambling to write and implement rules as required by the Dodd-Frank Act, and many have warned that they are likely to miss deadlines set by Congress. However, Rep. Barney Frank, D-Mass., indicated that the deadlines are not the top priority. "There is no penalty for not meeting the deadline," Frank said. "There's no gun at their heads. Nobody gets fired." He signaled that it's OK if agencies need more time to work on the rules.
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