The House Financial Services Committee approved the Financial Choice Act by 34 to 26. While it has enough support to clear the GOP-controlled House, it is unlikely to gain traction in the Senate.
The House Financial Services Committee began debate Tuesday on a sweeping regulatory reform bill, yet while it is expected to pass on party lines, few expect it to standa chance in the Senate.
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.
Senate Banking Committee Chairman Mike Crapo and House Financial Services Committee Chairman Jeb Hensarling said they believed an agreement on housing finance reform could be struck in this Congress.
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 financial press looks at possible ramifications from Jes Staley's attempt to unmask a whistleblower at the British bank; why has the digital currency failed to live up to eight years of hype?
A new Republican plan to streamline Dodd-Frank's capital rules, stress tests and many other requirements will be reintroduced in the coming weeks by House Financial Services Committee Chairman Jeb Hensarling.
Republicans on the Housing Financial Services Committee barraged the director of the Consumer Financial Protection Bureau on Wednesday with accusations that the agency is corrupt, as they tried to lay the groundwork for President Trump to remove the director for cause.
