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AFR in the News: Senate Delays Vote on Bill to Slow Down Financial Rulemaking

Submitted by on November 15, 2012 – 11:40 am
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“Financial reformers have won a small battle in their fight with Wall Street over financial regulation, but they’re still at risk of losing the war,” Mark Gongloff writes in the Huffington Post.

Under pressure from “an unusual coalition of financial regulators and reform advocates,” the Senate Committee On Homeland Security and Governmental Affairs has decided to put off a vote on the Independent Agency Regulatory Analysis Act (S. 3468), which “would give the White House unprecedented power to frustrate independent regulatory agencies trying to make new rules, including rules meant to prevent another financial crisis,” according to Gongloff.

“I would expect them to keep pushing it,” Marcus Stanley, policy director of Americans for Financial Reform told Gongloff. “But there was a tactical victory won in pushing this timing back.”