Major Dodd-Frank Act Vote Delayed Yet Again In Face Of Industry Pressure

In what is becoming a troubling pattern, financial regulators have yet again delayed a vote on a crucial provision of the Dodd-Frank Act. The Commodity Futures Trading Commission again put off voting on a rule that would more strictly regulate the massive swaps market, which is used by firms to fix or lock in their energy costs, more clearly defining which banks and energy companies would be subject to costly regulations. Major commodity companies, such as BP, Shell and Cargill have vigorously argued that they should be exempt from the new regulations because their use of swaps is necessary to insulate themselves from major changes in prices and currency values. More in the Huffington Post here.