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Dodd-Frank Opponents Consider New Legal Challenges

Joe Mont | October 16, 2012

While some critics of the Dodd-Frank Act have called for a full repeal of the legislation on Capitol Hill, the more immediate strategy is to chip away at an array of its provisions through lawsuits challenging the cost-benefit calculations required in the rulemaking and through other legal challenges.

Last week, the U.S. Chamber of Commerce and a coalition of oil industry associations filed the latest Dodd-Frank legal challenge. They are seeking to halt a final rule issued by the Securities and Exchange Commission in August that requires oil, gas, and mining companies to disclose payments—totaling $100,000 or more—that are made to the United States or foreign governments in exchange for extracting resources.

Last year the Chamber of Commerce and the Business Roundtable succeeded in blocking an SEC rule, mandated by the Dodd-Frank Act, that would have required companies to allow shareholders to nominate their own candidates for the board of directors directly through...

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