The House Financial Services Committee has approved six bills to ease derivatives regulation, a move that triggered praise and criticism. 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 in many cases, the legislation "is premature and aspects would be disruptive and harmful to the implementation of key reforms."

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