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  • bluecheese4u bluecheese4u Aug 19, 2013 2:32 AM Flag

    Obama to meet with financial regulators at White House Monday

    Obama to meet with financial regulators at White House Monday

    Justin Sink - 08/18/13 09:10 PM ET

    President Obama on Monday will meet with financial regulators to discuss progress on the implementation of the Dodd-Frank reform bill, the White House announced.

    In his first day back in Washington after a week-long vacation in Martha's Vineyard, Obama will meet in the West Wing with directors from a slew of federal agencies tasked with regulating the nation's financial system.

    Representatives from the Consumer Financial Protection Bureau, Federal Housing Finance Agency, Federal Reserve system, Commodity Futures Trading Commission (CFTC), and the Federal Deposit Insurance Corporation (FDIC) will be among those in attendance. The Treasury Department said that Secretary Jack Lew would also attend the closed-press meeting.

    The gathering comes just over three years after Obama signed the Dodd-Frank reform bill into law, and amid a renewed push by the administration to fully implement the measure’s regulations.

    Of the roughly 400 new industry rules to be written under the 3,200 page bill, only 39 percent have been completed, according to CNBC. Lew told the network last month that fully implementing the law would be a top priority of the administration in the coming months.

    "By the end of this year, the core elements of the Dodd-Frank Act will be substantially in place," Lew said.

    Obama also reportedly spent time during his vacation weighing whom to tap as the next head of the Federal Reserve, with speculation about who will replace Ben Bernanke swirling around Washington. Congressional Democrats have voiced support for current Fed Vice Chairwoman Janet Yellen, while the president has acknowledged also considering former Treasury Secretary Larry Summers for the job.

    In a closed-door meeting with Senate Democrats last month, Obama defended Summers from criticism over remarks he made about women while serving as president of Harvard and for his role in

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