WASHINGTON — More than a dozen bipartisan lawmakers urged the Federal Reserve to scale back its emergency lending authority in a pending rule required by the Dodd-Frank Act.

Dodd-Frank sought to limit the Fed's authority — mandated in section 13(3) of the Federal Reserve Act — to provide emergency aid to financial institutions. At the peak of the financial crisis, the central bank took unprecedented action to lend to banks at very low rates in an effort to keep the financial system afloat.

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