House passes bill to replace Dodd-Frank Wall Street reform law
Source: MSN/Reuters
WASHINGTON, June 8 (Reuters) - The U.S. House of Representatives on Thursday voted largely along party lines to replace the 2010 Dodd-Frank Wall Street reform law, a move that is expected to die in the Senate but open the door to revamping or eliminating regulations that came out of the 2007-09 financial crisis.
The bill, called the CHOICE act, was approved by a vote of 233-to-186. Authored by House Financial Services Committee Chairman Jeb Hensarling, a Republican, it gives banks a choice between complying with Dodd-Frank or holding onto more capital.
It also restructures the Consumer Financial Protection Bureau, created under Dodd-Frank to guard individuals against fraud in lending. Democrats are fiercely opposed to restructuring the CFPB.
The U.S. Senate is not expected to take up the bill in its entirety, even though it has the backing of President Donald Trump, a Republican, largely because of the threat that Democrats will use a filibuster to stall it.
Read more: http://www.msn.com/en-us/money/markets/house-passes-bill-to-replace-dodd-frank-wall-street-reform-law/ar-BBCk1iT
While the Nation is focused on Comey's testimony, House Republicans conveniently pass legislation to suck up to big banks and kill Dodd-Frank.
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this coming recess that these republican ass**** will come out and have pie and cokes, selling there BS not this time
They have No loyalty unless its money
