House Passes Dodd-Frank Amendments
The House Ag Committee has passes a half dozen bills that would amend Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. House Ag Committee Chairman Frank Lucas says some of the current regulations are – completely contrary to the intent of the original Dodd-Frank legislation. He says – some of these regulations could make using derivatives so expensive that businesses will be forced to stop using them to hedge against risk.
Ranking Member Collin Peterson is calling for – patience with the Commodity Futures Trading Commission. He said – the CFTC is going to get this right. To date, most of the final rules coming out of the Commission have bipartisan support and are addressing the concerns that stakeholders have expressed to both us and the Commission.
Peterson believes that even if we do find that any of these bills are necessary, they have no future. The majority of Senate Republicans and their leadership have dedicated themselves to the repeal of Dodd-Frank.