Skip to main content

Newsroom

June 3, 2013

Delaware's John Carney seeks to amend 2010 Wall Street reform law

“Rep. John Carney is playing a major role in a controversial effort to rework, and some say weaken, provisions of a landmark 2010 Wall Street reform law enacted in response to the Great Recession.

A bill co-sponsored by the Delaware Democrat would allow foreign branches and subsidiaries of U.S. financial institutions to follow financial regulations in their host countries and bypass U.S. rules.

It’s among several bills approved by bipartisan votes on the House Financial Services Committee that are designed to amend some provisions in the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. Those provisions affect financial instruments known as derivatives, which were the trigger for the financial crisis.

The Obama administration and reform advocates oppose the bills. One lawmaker called the bill cosponsored by Carney “Miracle-Gro” for the next financial disaster.”

***

Read full Delaware News Journal article here 

In the News
Share

MEDIA REQUESTS

For media inquiries, please contact us at
press@bettermarkets.org or 202-618-6433.

Contact Us

For media inquiries, please contact press@bettermarkets.org or 202-618-6433.

To sign up for our email newsletter, please visit this page.

Name(Required)
This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

"* (Required)" indicates required fields

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact press@bettermarkets.org or 202-618-6433.

Donate

Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today