Frank Vows Fight On House GOP Derivatives Bills

Law360, New York (April 2, 2012, 3:47 PM EDT) -- Rep. Barney Frank, D-Mass., vowed Monday to fight back against Republican measures that he characterized as efforts to weaken regulations for trading in over-the-counter derivatives that were part of the Dodd-Frank Act.

Frank blasted a pair of Republican bills that cleared the House Financial Services Committee earlier this year that he said would remove required transparency from the derivatives trading marketplace.

Unregulated derivatives transactions were one of the causes of the 2008 financial crisis, and something the Dodd-Frank Act was written to stop, Frank said....
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