Maloney statement on District Court’s cross-border derivatives decision

WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY) today released the following statement in reaction to the U.S. District Court for the District of Columbia’s decision to dismiss arguments against a Commodity Futures Trading Commission (CFTC) rule on cross-border derivatives:

“The District Court’s decision is a huge victory for the American taxpayers, because it upholds the CFTC’s authority to regulate cross-border derivatives that pose a risk to the U.S. economy. The District Court agreed with the amicus brief that my colleagues and I submitted by ruling that Congress did, in fact, intend to give the CFTC the authority to regulate cross-border derivatives when we passed Dodd-Frank. I applaud the court for making the right decision.”