House Dems Defeat Bill To Grant Volcker Rule Delay

Law360, New York (January 7, 2015, 4:40 PM EST) -- Democrats in the U.S. House of Representatives on Wednesday beat back an effort to make changes they say would have gutted the Volcker Rule and alter other aspects of the Dodd-Frank Act.

In a tight vote that saw many Democrats change their position at the last minute, the House's minority party managed to stop Republicans from getting the two-thirds vote they needed to pass H.R. 37, a bill aimed at making "technical corrections" to Dodd-Frank, without going through the committee vote process. The move comes after Democrats were unable to stop measures they said would weaken Dodd-Frank from passing in a...

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