House committee approves extension for Dodd-Frank rule-makings

Capitol Hill in Washington DC

The US House Financial Services Committee has voted to extend the deadlines for certain provisions of the Dodd-Frank Act, although many key deadlines contained in Title VII of the bill have been left untouched – including the original July 21 deadline for the passage of final rules governing clearing procedures for over-the-counter swap products.

In a frequently bad-tempered meeting in Washington yesterday, House Republicans passed HR 1537 by a 30-24 vote along party lines. The seven-page bill w