Warner calls for Dodd-Frank corrections in new Congress

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Warner, while saying he had his issues with the law as is, harshly dismissed any idea of repealing the law altogether. While some Republicans have called for its repeal, saying it is stifling financial markets with burdensome regulations, Warner contended that throwing out the law would throw markets into turmoil.

"I don't know what financial world [those calling for repeal] are living in. Nothing would be more disruptive to the markets," he said.

The GOP-controlled House has moved a number of bills that would tweak or otherwise repeal provisions of Dodd-Frank, but largely on a partisan basis. The Democrat-controlled Senate has shut down any efforts to make changes to the law.