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August 3, 2012

The Deal: Dodd-Frank supporters fear court test could weaken law

“Consumer group Better Markets on Monday offered a vigorous and extensive rebuttal to a campaign from business groups and GOP legislators for “cost-benefit” analysis of financial reform regulation.

In a 107-page report and a press conference, the group said financial regulators’ duty is to protect the public and the markets, not to minimize industry costs, and it suggested the attack’s real intent is to neuter the reforms of the Dodd-Frank Act, especially those being handled by the Securities and Exchange Commission

“While ‘cost-benefit analysis’ sounds logical, it’s no more than a Trojan Horse that will have the effect of killing financial reform,” the group warned.”

Read  Ira Teinowitz’s full article from The Deal here (subscription required). 

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