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Bipartisan Policy Center to Assess Dodd-Frank Act

Posted on 10/19/2012

The Bipartisan Policy Center, a Washington, D.C.-based think tank, has launched its Financial Regulatory Reform Initiative, which will assess the Dodd-Frank Act's effectiveness and recommend improvements in a report slated to be released next fall.

"The initiative aims to assist Congress, the executive branch and regulators as they work to further develop and potentially modify financial supervision and regulation," the policy center said in a press release.

Aaron Klein, a Dodd-Frank architect who worked for former Senate Banking Committee Chairman Chris Dodd (D-Conn.), will direct the initiative. Klein also is a former deputy assistant Treasury secretary for economic policy coordination in the Obama administration.

The initiative's co-chairs are Martin Baily, a Democrat, and Phil Swagel, a Republican. Baily chaired the Council of Economic Advisors during the Clinton administration, and Swagel was assistant Treasury secretary for economic policy during the last Bush administration.

The initiative will consider five financial-reform areas: systemic risk; failure resolution; capital markets and the Volcker rule; consumer financial protection; and regulatory architecture. As part of the initiative's launch, Klein and the co-chairs released a white paper with an overview of each area.
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