Members of the nonpartisan Committee on Capital Markets Regulation said the process for implementing measures of the Dodd-Frank Act is "seriously flawed" and could hinder economic recovery and damage the financial system. John Thornton, Hal Scott and R. Glenn Hubbard said Congress needs to quickly hold hearings to address concerns about deadlines facing regulators. "The current rulemaking process is sacrificing quality and fairness for apparent speed," they wrote in a letter to lawmakers.

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