Senate Banking Committee Republicans worry Securities and Exchange Commission chairman Mary Schapiro and other regulators are rushing to implement rules mandated by the Dodd-Frank Act without sufficient regard to cost-benefit analyses or public comments.
“We are concerned that regulators are not allowing adequate time for meaningful public comment on their proposed rules,” Richard Shelby, R-Ala., the ranking minority member, and the committee’s nine other Republicans wrote in a three-page letter sent Wednesday to six regulators.
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