The Effect of Dodd's Retirement

Opinions vary as to what Senator Christopher Dodd’s retirement, announced in January, will mean for financial services and healthcare reform. Knut Rostad, chairman of The Committee for the Fiduciary Standard, says that now that Dodd will “not have to be reckoned with after the election, industry opponents of the Consumer Financial Protection Agency will push even harder to reduce its firepower, or go with the alternative and weaker option promoted by the Heritage Foundation. To balance this loss for Main Street, pushing and repackaging the fiduciary standard language to resonate with Main Street makes sense.”