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Sen. Warren Calls For Tough Cross-Border Swap Rules

HedgeWorld – Democratic Senator and Wall Street critic Elizabeth Warren is urging federal regulators to “show some backbone” and stick to their proposal for how new derivatives rules will apply to foreign banks who do business with U.S. companies.

“If the Commodity Futures Trading Commission moves in the wrong direction here, it could create loopholes that the big banks will be able to drive a truck through,” Ms. Warren said in an interview with Reuters on Thursday [June 13].

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