Dodd-Frank in danger

With Republicans keen to dismember the Dodd-Frank Act, Wall Street will be watching the November presidential elections with special interest. But even if the Republicans achieve electoral victory, Dodd-Frank won’t be so easy to break up. By Michael Watt

On July 21 this year, the Dodd-Frank Act celebrates its second birthday. Bankers will not be wishing it many happy returns. Although the bulk of its provisions have yet to be implemented, it has spawned a series of fierce debates – over the Volcker rule, the Consumer Financial Protection Bureau (CFPB), extraterritoriality and swap execution facilities (Sefs), for example. But its fate is uncertain, dependent on the outcome of the general election in November, which will pit incumbent Democrat