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Dodd-Frank co-author defends Act, urges Wall Street to reconnect to Washington after election

Nov 15 2012 Nick Paraskeva, for Compliance Complete

“The election is over, [the] Dodd-Frank Act is not going to be repealed,” said retired U.S. Senator Christopher Dodd, former chairman of the Senate Banking Committee and co-author of the 2010 U.S. financial regulation overhaul, said on Wednesday as he urged a Wall Street audience to re-engage with the government on policy making. Combative language and rhetoric on reforms before the election would not help Wall Street to now reconnect with Main Street, Dodd said at a Bloomberg conference on foreign exchange. “I suggested during the crisis, that all the big firms send eight to 10 of their best people to Washington to help in whatever way they could to resolve the problems. That’s an opportunity that still exists, and people would welcome that gesture in ways you would not imagine.” Dodd was joined at the conference by industry regulators and other experts in urging the financial industry to reform. “There needs to be a corporate culture shift in the industry,” Commodity Futures

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