DODD-FRANK/OBAMA/POLITICS/SEC: “A key House lawmaker on Tuesday [4-11-17] unveiled changes to his proposal to roll back Obama-era financial rules, promising regulatory relief for banks if they hold enough capital and provisions aimed at spurring more companies to go public.
The summary of proposed legislation from House Financial Services Committee Chairman Jeb Hensarling (R., Texas) shows the bill could ease a number of heightened regulatory standards enacted through the 2010 Dodd-Frank financial-overhaul law. Mr. Hensarling’s legislation, known as the Financial Choice Act, would curtail certain powers of federal financial agencies such as the Consumer Financial Protection Bureau and the Securities and Exchange Commission.
Mr. Hensarling’s rollout of new details about his bill came on the same day that President Donald Trump again criticized Dodd-Frank.
‘We are doing a major elimination of the horrendous Dodd-Frank regulations. Keeping some obviously, but getting rid of many,’ Mr. Trump said at a meeting with CEOs at the White House.”
-Rachel Witowski, “What’s New in Republicans’ Plan to Replace Dodd-Frank,” The Wall Street Journal online, April 11, 2017 8:15pm