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Congress to consider abolishing the Dodd-Frank!

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This is the news of the day! (In the financing world)

House Financial Services Committee Chairman Rep. Jeb Hensarling, R-TX made waves earlier this year when he announced a Republican-crafted plan to repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act and replace it with a “pro-growth, pro-consumer” alternative.

Many of the tenets of the Republican plan, called the Financial CHOICE Act, were later echoed by the Republican Party’s national platform, adopted during its convention in July.

Included in the Financial CHOICE Act (“CHOICE” in this instance stands for “Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs”) is an end to “too-big-to-fail bailouts, dramatic reforms to the Consumer Financial Protection Bureau, and an overhaul of a financial regulatory system that is choking the country’s economic recovery.

You can read the rest of this article on the HousingWire.

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