RSN Fundraising Banner
FB Share
Email This Page
add comment

writing for godot

Senate Overturns Dodd-Frank Transparency Measure

Written by Jubilee USA Network   
Friday, 03 February 2017 03:47

The Senate voided a rule requiring greater financial transparency in the oil, gas and mining industries by a vote of 52-48. The "Cardin-Lugar amendment," Section 1504 of the 2010 Dodd-Frank Wall Street Reform Act, requires companies in these industries to disclose payments to governments in the countries where they operate. The resolution voiding the rule has already passed the House.

"We are worried how this action will impact poor and vulnerable communities," commented Eric LeCompte, Executive Director of the religious development organization Jubilee USA. "Congress acted hastily and didn't take the time to understand how this action affects transparency and accountability."

President Trump is expected to sign the resolution today as well as an executive order calling for a roll back of other regulations mandated by Dodd-Frank. While the Securities and Exchange Commission, which wrote the rule, cannot directly reinstate it, it continues to have a legal mandate to gather this information.

“Now a new rule needs to be developed," LeCompte notes. "We need to be sure it really furthers anti-corruption efforts.”

Read more about the Cardin-Lugar amendment

Read the oped published on 1504 from Eric LeCompte, Jubilee USA executive director

Read the letter Jubilee USA's executive director sent to Congress on the legislation your social media marketing partner


A note of caution regarding our comment sections:

For months a stream of media reports have warned of coordinated propaganda efforts targeting political websites based in the U.S., particularly in the run-up to the 2016 presidential election.

We too were alarmed at the patterns we were, and still are, seeing. It is clear that the provocateurs are far more savvy, disciplined, and purposeful than anything we have ever experienced before.

It is also clear that we still have elements of the same activity in our article discussion forums at this time.

We have hosted and encouraged reader expression since the turn of the century. The comments of our readers are the most vibrant, best-used interactive feature at Reader Supported News. Accordingly, we are strongly resistant to interrupting those services.

It is, however, important to note that in all likelihood hardened operatives are attempting to shape the dialog our community seeks to engage in.

Adapt and overcome.

Marc Ash
Founder, Reader Supported News

0 # laborequalswealth 2017-02-22 17:12
Dodd-Frank, like the ACA, is another piece of neo-lib crap ginned up to make us believe that the Demos are actually doing something.

Reinstate Glass-Steagall.
Single payer for all.

THAT is what the American people want but their corporate masters will never give them.

America the Stupid.

THE NEW STREAMLINED RSN LOGIN PROCESS: Register once, then login and you are ready to comment. All you need is a Username and a Password of your choosing and you are free to comment whenever you like! Welcome to the Reader Supported News community.