The House yesterday passed by a 312-111 vote Rep. Vicky Hartzler’s (R-Mo.) bill (H.R. 3336) that would revise the Dodd-Frank Act to clarify that the exemption from the swap-dealer definition includes banks that provide interest-rate swaps for customers’ loans. “This revision of Dodd-Frank is essential to farmers, manufacturers, and small and rural businesses wanting to expand and create new jobs,” Hartzler said. The Senate still must pass the legislation.
Read Hartzler’s press release.