U.S. Senator Ted Kaufman (D-Del.) released the following statement on Thursday:
"As I said back in July, any exemptions to the Freedom of Information Act, which empowers citizens to monitor their government, must be fashioned with a scalpel. The Dodd-Frank law unfortunately contains overbroad SEC exemptions to FOIA.
"This bill -- which cleared a final hurdle tonight in the House of Representatives -- eliminates the exemptions while carefully addressing legitimate SEC concerns. I urge President Obama to sign the bill into law quickly -- a critical step to restoring transparency and promoting effective oversight of our financial markets and regulatory agencies."