CNBC Quotes Manatt Partner on Dodd-Frank Financial Reform Bill
"Dodd-Frank? More Like Dud-Frank for Lots of Folks"
CNBC
June 4, 2013 - CNBC quoted Manatt's Ellen Marshall, a partner in the firm's Banking & Financial Services Practice, on the Dodd-Frank financial reform bill that was created out of the financial crisis of 2007-2009.
CNBC reports that critics, and even some supporters, of the Dodd-Frank bill have recently claimed the regulation is flawed and convoluted. Industry experts told the news outlet that the bill is confusing, and the rules keep changing. Most recently, the Financial Services Committee in the House of Representatives altered a rule in Dodd-Frank that now prohibits the government from bailing out federally insured banks engaged in swaps trading.
As of now, Dodd-Frank is categorized into 16 areas and contains more than 2,000 pages; however, more than 63 percent of the rules have yet to be written.
"A lot of the transparency and information flow has yet to be seen, but small steps have been taken," said Marshall.
Read the article here.