Arguing that due process rights “are vaporized” under the Dodd-Frank Act, witnesses told a House subcommittee on Tuesday that aspects of the massive 2010 law overhauling the financial services industry might be unconstitutional.
During a hearing that at times felt more like a law school seminar, members of the Committee on Financial Services Subcommittee on Oversight and Investigations focused on the law’s all new—and as yet untested—orderly liquidation authority.
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