Last week’s reelection of President Barack Obama, with Democrats maintaining control of the Senate, was a blow to Republican efforts to chip away at the Dodd-Frank Act and reshape its financial reforms. For now at least, what happens next on The Hill may not be as damaging to those rules as what happens in courtrooms.
Even as new lawsuits against rulemaking continue to hit dockets, attorneys in the midst of the action insist—likely in vain, as far as the regulators they face-off against are concerned—that their efforts are neither strictly political nor a concerted effort to disassemble Dodd-Frank piece-by-piece.
