The American Securitization Forum (ASF) released a statement today applauding the House Financial Services Committee’s approval of legislation aimed at stabilizing the ABS market.

The bill, sponsored by Rep. Steve Stivers (R-Ohio), calls specifically for the restoration of Rule 436(g), which was repealed upon the passage of the Dodd-Frank Act last year. The regulation exempts rating agencies from “expert” liability when assigned ABS credit ratings.

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