The House Financial Services Committee will mark up its wide-ranging Dodd-Frank Act replacement legislation May 2, according to a House aide.
The bill, known as the Financial Choice Act, offers regulatory relief for banks that bolster their capital levels. It also would pare back many aspects of Dodd-Frank, such as the Volcker Rule, which bars proprietary trading by banks, and the Durbin amendment, which caps fees on debit-card transactions.
House Republican lawmakers, led by Rep. Jeb Hensarling (R-Texas), want to move quickly on the bill, although it would face stiff resistance from Senate Democrats in its current form.
The May 2 vote on the legislation would follow a hearing scheduled for April 26, and a floor vote could take place within weeks.
Witnesses scheduled to testify April 26 include Hester Peirce, a Mercatus Center fellow who was nominated to a Republican seat on the Securities and Exchange Commission in late 2015 but never confirmed, and Michael Barr, a University of Michigan Law School professor who helped craft Dodd-Frank when he worked at the Treasury Department.
To contact the reporter on this story: Rob Tricchinelli in Washington at firstname.lastname@example.org
To contact the editor responsible for this story: Phyllis Diamond at email@example.com
Copyright © 2017 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)