Predictable. Did the public really vote for even less reform than the already watered down plan that they want to stop?
Implementation of the new U.S. financial reform law should be delayed for a year so regulators have more time to understand the impact of rules they are writing, a key House Republican said in an interview with Reuters.
Representative Randy Neugebauer of Texas, who will head the House Financial Services oversight subcommittee next year, said the "pause" would allow regulators to study whether a rule required by the law would do more harm than good.
"I think the first thing we need to do is hit the pause button here and extend these deadlines and get a picture of where we are," the Republican lawmaker said Tuesday.
