GOP Bill To Curb Dodd-Frank Rule Risks Repeat Of 2008

Law360, New York (August 2, 2012, 7:27 PM EDT) -- Congressional Republicans on Thursday introduced legislation that would bar federal regulators from placing insurance companies and other nonbanks under the Federal Reserve’s supervision by designating them systemically significant, but critics say such a move risks a financial panic similar to 2008.

The bill, titled the Terminating the Expansion of Too-Big-To-Fail Act, would prevent the Financial Stability Oversight Council, a panel of regulators created under the Dodd-Frank Act, from designating any insurance companies, hedge funds or other companies as systemically important financial institutions subject to the Federal...
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