Empty Seats at Regulators Hold Back Trump Bid to Undo Dodd-Frank
- President has yet to pick commissioners for SEC and CFTC
- Democrats at agencies can single-handedly block proposals
Empty Seats at Regulators Thwart Trump’s Dodd-Frank Plans
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President Donald Trump’s push to roll back Wall Street regulations is being held up by his inability to fill open seats at the two main agencies charged with overseeing the financial industry.
The White House’s inaction has left the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission with just two members apiece, one from each political party. That’s given the lone Democrats at each regulator the unusual power to block policy moves they disagree with.