Prior to adjournment, the 113^th Congress passed the first changes to the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203, “Dodd-Frank”) since the landmark legislation was signed into law by President Obama on July 21, 2010. The changes partially repeal the “swaps push-out” rule and make clear the Federal Reserve Board’s authority to develop insurance-based capital standards for systemically important insurance companies under its supervision. In this post, the authors detail Congress’ changes and the impact on financial companies.

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