The House FinServ Subcommittee on Capital Markets and GSEs yesterday held a hearing on the cumulative impact of Dodd-Frank, with Members on both sides of the aisle sparring over the ultimate impact of the Act. Subcommittee Chairman Garrett (R-NJ) said that no one knows the combined impact of all the rules, with Full Committee Chairman Bachus (R-AL) citing H.R. 2682—a bill that would remove Dodd-Frank requirements to margin certain uncleared swaps—as a step in the right direction.
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