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2017-06-09 Government
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House passes sweeping bill to strip back financial rules
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[THEHILL] The House of Representatives on Thursday passed sweeping legislation to strip and replace much of the financial regulations passed under President B.O. after the 2008 financial crisis.
The House passed the Financial CHOICE Act 233-186, along party lines. The bill is not expected to pass the Senate.
Sponsored by House Financial Services Committee Chairman Jeb Hensarling (R-Texas), the CHOICE Act is the most ambitious Republican effort to roll back the Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in 2010. Republicans have long targeted Dodd-Frank, saying it has created a crushing regulatory burden that suffocates small businesses and banks while empowering unaccountable babus bureaucrats.
"Dodd-Frank represents the greatest imposition on our business enterprises than all Obama era regulations combined," Hensarling said Thursday morning in a briefing with news hounds. "In many respects, it was not a response to the financial crisis, but a grab bag of leftist ideas that were waiting on the shelf for quite some time." 
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Posted by Fred 2017-06-09 00:00||
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Posted by Abu Uluque 2017-06-09 10:09||
2017-06-09 10:09||
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Posted by Iblis 2017-06-09 12:12||
2017-06-09 12:12||
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