House committee approves bills easing derivatives rules

The House Financial Services Committee has approved a series of bills aimed at easing derivatives regulation. A bipartisan group of legislators say the measures are necessary to fix problems that have created obstacles for businesses. Before the committee's vote, Treasury Secretary Jack Lew wrote in a letter to Chairman Jeb Hensarling, R-Texas, that the legislation "is premature and aspects would be disruptive and harmful to the implementation of key reforms." The House approved a similar set of legislation last year, but it failed to gain support in the Senate. The latest bills are expected to follow a similar path.

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