Top Regulators Meet With Obama On Dodd-Frank Progress

It was announced on Sunday that President Obama is planning to meet with key regulatory officials Today to discuss the advancement of Dodd-Frank. Representatives from the Treasury, the Consumer Financial Protection Bureau, the Federal Housing Finance Agency, the Commodity Futures Trading Commission, the Securities and Exchange Commission and the National Credit Union Administration will be in attendance.

Since being signed into law in 2010, the Dodd-Frank has been the target of both praise and criticism. On the one hand, it’s supporters have purported Dodd-Frank brought increased sustainability and accountability to the regulatory system, but it’s critics have commented on its broad reach. The reforms within the Dodd-Frank Act extended from anti-predatory lending and mortgage reform, to imposing rules on derivatives.

The Commodity Futures Trading Commission’s (CFTC’s) chairman, Gary Gensler, will be present at the talks, along with key members from other financial regulatory agencies. According to Bloomberg, White House press secretary Josh Earnest says that President Barack Obama wishes to meet with the regulators because he wants to press the importance of implementing all of the Dodd-Frank Act’s reforms.



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