House Financial Services chair says new bank trading rule is "regulatory overkill."
Nominee Cyrus Amir-Mokri currently is senior counsel at Commodities Future Trading Commission.
Credit unions and other financial institutions are likely to face an added regulatory burden as a result of the regulatory overhaul bill passed by Congress this year.
The Senate last Thursday overcame strong Republican opposition and passed comprehensive regulatory overhaul legislation 60 to 39. All but one of the 58 Senate Democrats supported the measure, and all but three of the chamber's 41 Republicans opposed it.
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