While members of the House Financial Services Committee sparred on Tuesday over whether the Dodd-Frank Act is hurting more than it's helping, representatives from various segments of the financial services community testifying before the committee stopped short of saying Dodd-Frank needs to be repealed.
When asked to raise their hand if they supported the repeal of Dodd-Frank, none of the seven testifying—representing groups including the Securities Industry and Financial Markets Association, the U.S. Chamber of Commerce and the Investment Company Institute—did so.
Mitt Romney, the Republican presidential candidate, has pledged to repeal the law while saying some of its concepts "have a place."
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