Morning Scan: Undoing Dodd Frank; Wells Fargo Makes Plans

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Dodd-Frank Replacement Plan: House Financial Services Committee Chairman Jeb Hensarling has a plan to revamp the Dodd-Frank Act and replace it with a capital-based alternative, which banks could opt into if they meet certain requirements, like a 10% leverage ratio (U.S. banks are currently required to meet a leverage ratio of 6%). "Think of it as a market-based, equity-financed Dodd-Frank off ramp," that will "relieve financial institutions from regulations that create more...