CFTC Playing Politics With Dodd-Frank, House GOP Says

Law360, New York (October 11, 2012, 1:23 PM EDT) -- Four leading House Republicans on Wednesday accused the U.S. Commodity Futures Trading Commission of pursuing “political and ideological goals” through Dodd-Frank Act rules, including curbs on derivatives trading that a federal court struck down last month.

The CFTC has wasted scarce resources drafting and implementing rules that were not justified by Congress’ sweeping 2010 financial overhaul, according to the public letter to CFTC Chairman Gary Gensler. The letter was signed by House Financial Services Committee Chairman Spencer Bachus, R-Ala.; Vice Chairman Jeb Hensarling, R-Texas; and subcommittee...
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