The House has approved major changes to signature aspects of Dodd-Frank. While those changes are unlikely to survive intact, they are certainly worthy of close attention. We’ve studied the nearly 600-page bill so you don’t have to.
On June 8, 2017, the House passed H.R. 10, entitled the Financial CHOICE Act of 2017. Sponsored by Rep. Jeb Hensarling (R-Texas), the bill advances to the Senate after a largely party-line vote, 233 to 186. All but one Republican supported the bill, while all Democrats opposed.
The bill extensively amends the Dodd-Frank Wall Street Reform and Consumer Protection Act, the landmark 2010 legislation passed by a Democrat-controlled Congress in the wake of the Lehman Brothers collapse and ensuing financial crisis.
Key changes include: