Repeal of Dodd-Frank's swaps push-out seen as unlikely to pass Congress

Despite positive vote by House subcommittee, lawyers say a bill repealing section 716 of Dodd-Frank will not pass

A move to repeal section 716 of the Dodd-Frank Act, which requires banks to push their equity, commodity and uncleared derivatives into separate affiliates, is unlikely to make its way through Congress, despite being approved in a November 15 vote by a subcommittee of the House Committee on Financial Services, lawyers say.

"I certainly don't hold out a lot of hope for the bill's passage because it has to go through the Senate, which is still controlled by the Democrats. However, it does a couple