Regulators move in on hardwiring

By:
Duncan Kerr
Published on:

In July 2010 the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law in the US, bringing in a whole host of new controls for credit rating agencies, and in particular a requirement to remove certain statutory references to credit ratings. It also required all federal agencies to review and modify regulations to remove references to or reliance upon credit ratings and substitute an alternative standard of creditworthiness. There have been various...