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.
