Loan Syndications & Trading Ass'n v. SEC. & Exch. Comm'n
Court of Appeals for the D.C. Circuit
1Opinion of the Court
Williams, Senior Circuit Judge:
In the wake of the 2007-2008 financial crisis, Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. No. 111-203, 124 Stat. 1376 (2010), including provisions aimed at redressing the "complexity and opacity" of securitizations that it saw as preventing investors from adequately assessing risks in a securitized portfolio. S. Rep. No. 111-176, at 128-29 (2010). In § 941 of the act, 15 U.S.C. § 78 o -11, Congress directed the defendant agencies (plus two other banking agencies 1 ) to prescribe regulations to require "any…
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