Treasury Secretary Steven Mnuchin's upcoming report on how to rewrite financial regulation is likely to end up looking very similar to a Dodd-Frank overhaul plan in the House.
Scott Alvarez, the general counsel of the Federal Reserve, said the Dodd-Frank Act provision that allows regulators to handle the failure of a large financial institution would have been useful during the financial crisis.
Democrats drew a line in the sand Wednesday, opposing a provision in a GOP bill that would allow banks to comply with fewer rules in exchange for holding more capital.
The fight over a Consumer Financial Protection Bureau rule adding new restrictions to prepaid cards is intensifying as some Republicans hope to overturn it before a looming deadline expires.
