Skip to main content

Newsroom

March 5, 2014

Obama Trims CFTC Budget Request

“The budget request that President Barack Obama sends to Congress Tuesday will request $280 million for the Commodity Futures Trading Commission in fiscal 2015 — a $65 million increase from its current budget but less than the $315 million he proposed last year. The news Friday alarmed financial reform advocates and left others wondering why the White House scaled back its aspirations.

The agency took on many new responsibilities to oversee the swaps market under the 2010 Dodd-Frank law, and CFTC officials have long warned that they need more resources. Last year, former CFTC Chairman Gary Gensler announced staff furloughs because the agency’s budget was so tight.

The decision to cut the budget request is “wrong by every measure and a disservice to the American people,” Better Markets President Dennis Kelleher said. “It is bad policy, politics, economics and sends the wrong message.”

***

Read full POLITICO Morning Money 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

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