Pardon Our Dust
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The passage of the JOBS and Investor Confidence Act (Jobs Act 3.0) in the U.S. House of Representatives on July 17 may mark the end of the GOP’s efforts to repeal Dodd-Frank.
In her Aug. 7 Law360 article, Lai King Lam, vice president in McGuireWoods Consulting’s federal public affairs practice, discussed the roots of Jobs Act 3.0 and gave an overview of the measures related to Dodd-Frank included in the legislation.
The three Dodd-Frank-related measures previously passed the House as stand-alone bills, and cover living wills, international insurance standards and stress-testing requirements.
Jobs Act 3.0 faces several hurdles in the Senate, including potential amendments that could drag out the timeline for action; a lack of interest among Democrats to do another financial services bill so soon after the Economic Growth, Regulatory Relief and Consumer Protection Act; and the crowded floor schedule, Lam wrote.
If the legislation passes, the House Financial Services Committee likely will shift its focus to the regulation of the financial technology marketplace in the next Congress, leaving talks of repealing Dodd-Frank in the past, she added.