U.S. Representative Introduces Bill to Repeal Dodd-Frank

January 7, 2011 (PLANSPONSOR.com) – Representative Michele Bachmann (R-Minnesota) has introduced new legislation, H.R. 87, to repeal the Dodd-Frank financial reform bill.

“Dodd-Frank grossly expanded the federal government beyond its jurisdictional boundaries. It gave Washington bureaucrats the power to interpret and enforce the legislation with little oversight,” Bachmann said in a press release. “Dodd-Frank also failed to address the taxpayer-funded liabilities of Fannie Mae and Freddie Mac. Real financial regulatory reform must deal with these lenders who were a leading cause of our economic recession.”  

The financial reform bill signed into law last July included additional rules on investment advisers (see Advisers Should Take Note of Financial Reform Bill Provisions) as well as corporate governance provisions (see Companies Need to Prepare for Pay and Governance Rules).