The Dodd-Frank Act and its implementation will fall under Congressional oversight as top U.S. Financial regulators appear before the Senate committee to discuss the progress made enacting the law.
Senate Committee to Discuss Dodd-Frank Implementation
U.S. Officials responsible for overseeing Wall Street will update lawmakers next week on their progress with 2010 Dodd-Frank oversight law.
Seven officials will appear before the Senate Banking Committe on Thursday, Feb. 14th, in a hearing centered on financial stability and protections for consumers and investors.
Reuters states that Commodity Futures Trading Commission Chairman (CFTC) Gary Gensler, Treasury Department’s under secretary for domestic finance, Mary Miller, Federal Reserve Governor Daniel Tarullo, Comptroller of the Currency Tom Curry, Securities and Exchange Commission Chairman Elisse Walter, Consumer Financial Protection Bureau Director Richard Cordray, and Federal Deposit Insurance Corp Chairman Martin Gruenberg will participate.
Several new rules called for by the Dodd-Frank law, are being written by financial regulatory agencies. Many of the most controversial changes, such as a ban on proprietary trading (now known as the Volker rule), are still being finished, Reuters reports.