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Bipartisan House group asks SEC to ease conflicts proposal

A large bipartisan group of House lawmakers asked the Securities and Exchange Commission today to narrow the scope of a proposed rule attempting to crack down on conflicts of interest in U.S. securitization markets.

The members, led by Reps. Wiley Nickel (D-N.C.) and Bryan Steil (R-Wis.), told SEC Chair Gary Gensler they were concerned about the impact the rule could have on the functioning of securities markets and, by extension, the cost of credit for American consumers. Read the letter here.

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