The Dodd-Frank Wall Street Reform and Consumer Protection Act faces a “serious threat” and “potential undoing” under Republican-proposed spending cuts, House Democrats warned Tuesday.
If implemented, the cuts would “frustrate” the ability of both the Securities and Exchange Commission and the Commodity Futures Trading Commission to fulfill their expansive new mandates under the act, Rep. Barney Frank, D-Mass., one of the two principal authors of the law, told reporters.
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