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Committee on Financial Services
United States House of Representatives
Press Release
Chairman Frank Statement on House Passage of SEC FOIA Legislation
September 23, 2010
WASHINGTON, D.C. – House Financial Services Committee Chairman Barney Frank (D-MA) issued the following statement today on House passage of S. 3717:
“This provision was included in the Dodd-Frank legislation after having been public for some time. Only after Fox Business News brought its lawsuit did people become aware of the provision’s negative implications. We immediately scheduled a hearing and got bipartisan agreement that a legislative remedy was necessary. Our Senate colleagues acted first with legislation to solve the immediate problem, and we decided that the best way to proceed was to concur with the Senate so that the President could sign legislation that solves the immediate problem. The decision to move forward was made on a bipartisan basis by me, Chairman Towns, and Ranking Members Bachus and Issa. We have bipartisan agreement that further action is necessary and we will begin that work.”
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