The two year anniversary of the signing of the Dodd-Frank Wall Street Reform and Consumer Protection Act is approaching and many rules required by the legislation still remain unwritten, according to a report from the law firm Davis Polk.
The report highlights that of the 221 rulemaking deadline that have passed 63% have been missed and 37% have been met.
"The Commodity Futures Trading Commission has finalized more Dodd-Frank rules than any other federal agency and has missed fewer deadlines without rule proposals than other agencies," writes Bank Credit News in a summary of the graphical data presented in the report.
Why the delays? In addition to "intense lobbying efforts to sway regulators or delay rules on key provisions of the law," writes The Hill's On The Money blog, "some of the regulators have also had to take on the weighty law without the budget boosts requested by the president."
For the full pieces see "Two years later, many of Dodd-Frank's rules remain unwritten, report finds" and "Report: Little progress made in implementation of Dodd-Frank rules." Or go directly to the Davis Polk July 2012 "Dodd-Frank Progress Report." (may require subscription)