We should not be--we have a Federal statutory authority here that we have given to the SEC, and when we talk about how to share that, we should not share the States' role and subject the States to this role without their full participation.
Frank argues for the importance of state participation in regulatory discussions.
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More from Barney Frank
I urge staff to pay close attention to the differences in products offered by nonbank institutions and to be mindful of Congress's intent in financial reform that State consumer protection laws be preserved to the extent possible.
If you're going to dip your fingers in the Federal till, don't complain if a little democracy rubs off on them.
This is not a bill to protect religious liberty in general. It singles out one particular religious tenet.
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