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Frank Refutes Rumor of "Technical Corrections" to Financial Reform Law

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Washington, DC, April 6, 2011 | comments

“I’ve read in the media that Chairman Bachus and I were discussing technical fixes to the financial reform law, including to a provision regarding rating agencies.  In fact, several weeks ago I had one conversation with him about changes I would like to make to the provision on interchange fees.  I am not aware of any other conversations going on, either about the rating agency provisions in the law or any other section. “

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Congressman Barney Frank today released the following statement in response to a story entitled “Technical Changes Planned for Financial Regulatory Act” in the April 6th edition of CQ Today.

“I would like to investigate the individual who is apparently impersonating me in the Capitol and has fooled Spencer Bachus into thinking he has been dealing with me.”
 
“I’ve read in the media that Chairman Bachus and I were discussing technical fixes to the financial reform law, including to a provision regarding rating agencies.  In fact, several weeks ago I had one conversation with him about changes I would like to make to the provision on interchange fees.  I am not aware of any other conversations going on, either about the rating agency provisions in the law or any other section. “

“I am pleased to see that Mr. Bachus wants to follow a bipartisan model of committee work.  There was a bipartisan aspect to the work of the Financial Services Committee when Republican Mike Oxley was chairman and also later when I was chairman.  But I have to say that so far I have not seen a similar spirit during this Congress and, although the majority was fair with regard to administrative issues during the transition, they have made all legislative decisions in a unilateral, partisan manner.”
 

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