A district court judge in Washington, D.C., threw out Thursday a challenge to the constitutionality of parts of the Dodd-Frank financial reform act. The plaintiffs have pledged to appeal the decision.
The Consumer Financial Protection Bureau, a creation of the Dodd-Frank financial reform act, was hit with another lawsuit on Monday, the Hill reported.
The Dodd-Frank financial reform act is “fundamentally unconstitutional,” said Rep. Scott Garrett (R., N.J.) at a Monday event hosted by the Cato Institute commemorating the third anniversary of the act’s signing by President Barack Obama.
Parts of the Dodd-Frank financial reform law violate the U.S. Constitution by allowing the government to take individuals’ property without going through an appropriate appeals process, experts told Congress Tuesday afternoon.
Lawyers representing the State National Bank of Big Springs, 11 states, and two advocacy organizations appeared before a D.C. District Court for the first time on Tuesday, arguing that the Dodd-Frank financial reform act unduly burdens smaller financial institutions and strips states of their legal rights.
The oversight subcommittee of the House Financial Services Committee sought clarity Tuesday afternoon on how financial regulators plan to regulate so-called “too big to fail” banks under the Dodd-Frank financial reform act.
Peter Wallison on Wednesday lamented the poor understanding people have of the underlying causes of the financial crisis, arguing that a false narrative of the crisis led to the Dodd-Frank Act and continues to stymie real reform in the financial sector.
Eight more states have officially joined a lawsuit against part of the Dodd-Frank financial reform act, arguing that the act undermines their financial stability.
Committees in the House of Representatives will continue to scrutinize the Obama administration’s major legislative achievements during the upcoming Congress, committee oversight plans indicate.