Dodd-Frank’s Potential Wiggle Room

According to a recent American Banker article, Dodd-Frank left plenty of room for regulators to interpret the statute as they see fit. While Congress is unlikely to repeal Dodd-Frank, the Trump administration seems willing to appoint regulators that could take advantage of the wiggle room and roll back significant portions on their own.

The article cites the Volcker Rule as an example, as it "took regulators nearly three and a half years to come up with the criteria — encompassing several hundreds of pages — governing how exactly they would enforce the rule." According to American Banker, however, "the Volcker Rule continues to leave too much to discretion." The same could be true for many other aspects of Dodd-Frank, which similarly depend on appointees' discretion, the article states.

For SFIG's analysis of possible procedural avenues for securitization regulation reform please click here. We remain engaged with members across all asset classes to prioritize issues and continue to meet with regulators and key lawmakers and staff to drive constructive reform. We also recently released our new white paper"Regulatory Reform: Securitization Industry Proposals to Support Growth in the Real Economy," focused on reforms directly affecting the securitization industry and other areas of regulatory reform which impact SFIG members and the industry.

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