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Barney Frank fears GOP will try to neuter watchdog agency 

January 7, 2015

Eric Garcia, MarketWatch

Former U.S. Rep. Barney Frank is worried that the new Republican Congress will try and weaken parts of his signature financial legislation that bears his name.

Emboldened by gaining a majority in the Senate during the closely watched midterm elections, incoming Majority Leader Mitch McConnell of Kentucky has said Republicans will take a look at the Dodd-Frank financial reform with an eye toward amending key components of the 2010 Dodd-Frank financial reforms.

Frank, the Massachusetts Democrat who helped write the law, said it is likely Republicans will attempt to de-fang the Consumer Financial Protection Bureau, a consumer watchdog agency stemming out of the Dodd-Frank financial reforms, and the brainchild of Sen. Elizabeth Warren, a Massachusetts Democrat, who briefly fostered the agency.

Read More: MarketWatch

 
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