Yellen Defends Long-Term Outlook For Dodd-Frank, Volcker

Law360, Washington (February 11, 2014, 5:51 PM EST) -- Federal Reserve Board Chair Janet Yellen on Tuesday refused to consider shelving implementation of the Dodd-Frank Act and Volcker Rule despite criticism from members of the House Financial Services Committee, saying the regulations are long-term fixes for the financial crisis.

Although several Republican lawmakers voiced concerns that the Dodd-Frank Act and the Volcker Rule will hurt the U.S. economy and have put banks at a competitive disadvantage compared to their overseas peers, Yellen maintained the regulations have already made the financial industry more resilient.

“I think...
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