Fact Check: Ranking Member Barney Frank Blaming House Republicans for Missed Dodd-Frank DeadlinesPosted by on July 27, 2012
Rep. Barney Frank, Ranking Member of the Financial Services Committee, on Thursday responded to criticism that regulators have completed “less than half” of the 400 new regulations in the Dodd-Frank Act by blaming House Republicans for cutting the budgets of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
“It is true that when the Republicans took over the House, they cut the funding for two of the most important agencies that got new responsibilities.”
-- Rep. Frank, CNBC’s “Closing Bell”
Here are the facts about funding:
*Source: Congressional Research Service
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