OTC MARKET NEWS Powered By Quantifi

House Panel to Vote on GOP Dodd-Frank rewrite 

May 4, 2017

Sylvan Lane, The Hill

The House Financial Services Committee is expected to vote Wednesday on a Republican bill to uproot the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The panel began marking up on Tuesday the Financial CHOICE Act, sponsored by Chairman Jeb Hensarling (R-Texas), which would repeal major parts of the post-recession financial regulation. Federal agencies and authorities created and expanded by the law would be drawn back and conducted in closer oversight of Congress, all long-sought GOP goals.

After the committee recessed at midnight Wednesday, the mark up resumed shortly after 9 a.m., when the panel rejected several Democratic amendments on party-line votes. Democrats are fiercely opposed to the bill and have been prolonging the contentious hearing in protest. 

An additional round of amendment votes is expected Wednesday evening. A vote on recommending the bill for passage will likely occur before the House is scheduled to recess on Thursday morning.

Read more

Comments are closed on this post.


Submit your email to receive our newsletter