Although President Barack Obama signed into law the so-called “Cromnibus” spending bill that included the repeal of part of the Dodd-Frank Act, the White House is now insisting that it was opposed to this change and will not allow for further reversals to the Dodd-Frank legislation.
Speaking in Washington, D.C. yesterday at a Politico-sponsored event, National Economic Council Director Jeffrey Zients insisted that the president was opposed to the measure he signed into law, which ended a prohibition on derivatives trading by banking units receiving insurance from the federal government.
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