WASHINGTON – Officials responsible for overseeing Wall Street will update lawmakers next week on their progress implementing the 2010 Dodd-Frank financial oversight law, a U.S. Senate committee announced on Thursday.
Financial regulatory agencies have been writing a heap of new rules called for by the Dodd-Frank law, which Congress passed in response to the 2007-2009 U.S. financial crisis.
They are still finishing some of the most controversial changes, such as a ban on proprietary trading known as the Volcker rule.
Seven officials are expected to appear before the Senate Banking Committee on Thursday, February 14, in a hearing focused on financial stability and protections for consumers and investors.
Mary Miller, the Treasury Department's under secretary for domestic finance, Federal Reserve Governor Daniel Tarullo, Comptroller of the Currency Tom Curry, Securities and Exchange Commission Chairman Elisse Walter, Commodity Futures Trading Commission Chairman Gary Gensler, Consumer Financial Protection Bureau Director Richard Cordray and Federal Deposit Insurance Corp Chairman Martin Gruenberg will participate, the committee said.
(Reporting By Emily Stephenson; Editing by Bernard Orr)