According to CNN Money, the Consumer Financial Protection Board, the Treasury Department and the Federal Reserve are working together to speed the new financial rulemaking mandated under Dodd-Frank.
Treasury has reached out to the Fed to discuss how the two can work together to help the bureau meet some of its tough rule-writing deadlines, people close to the situation told CNNMoney.com.
The Financial Services Roundtable supports this joint effort; we absolutely want these agencies to work together to produce something that helps the economy with the fewest unintended consequences possible. The Roundtable is also convinced, however, that accuracy and effectiveness rather than speed should be the primary goal. That why we’ve reached out to Dr. Elizabeth Warren (Click here to read her recent speech to The Roundtable) and the other major policymakers involved with implementing Dodd-Frank and will continue to work with them to make this part of the process move as quickly…but also as effectively…as possible