Many Dodd-Frank Provisions May Be on House Chopping Block Next Week

Posted To: MND NewsWire

House Majority Leader Kevin McCarthy (R-CA) has told reporters he expects a full House vote next week on H.R. 10, The Financial Choice Act which was voted out of the Financial Services Committee (FSC) on May 4. The Act, sponsored by FSC Chairman Jeb Hensarling (R-TX) would repeal or modify many of the changes made by the Dodd-Frank Wall Street Reform and Consumer Protection Act, including broad changes in financial regulations , revising the structure of the Consumer Financial Protection Bureau, and limiting much of its authority . It also includes provisions that will affect the home mortgage industry. In the latter area, the bill would incorporate more than two dozen proposed regulatory relief bills for community financial institutions, which we include for reader's reference; H.R. 2896,...(read more)

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