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House Republicans took a major step toward their long-promised goal of unwinding the stricter financial rules created after the 2008 crisis, pushing forward sweeping legislation that would undo much of President Barack Obama’s landmark banking law.
A House panel Thursday approved Republican-written legislation that would gut much of the Dodd-Frank law, enacted by Democrats in the wake of the financial crisis and the Great Recession. The GOP-led House Financial Services Committee voted along party lines.
Republicans argued that the Dodd-Frank law is slowing economic growth because of the cost of compliance and by curbing lending. Democrats warned that the GOP bill will create the same conditions that led to the 2008 financial crisis.
Read more https://www.washingtonpost.com/busi...0e4656c22aa_story.html?utm_term=.fe8ea8b3189e
A House panel Thursday approved Republican-written legislation that would gut much of the Dodd-Frank law, enacted by Democrats in the wake of the financial crisis and the Great Recession. The GOP-led House Financial Services Committee voted along party lines.
Republicans argued that the Dodd-Frank law is slowing economic growth because of the cost of compliance and by curbing lending. Democrats warned that the GOP bill will create the same conditions that led to the 2008 financial crisis.
Read more https://www.washingtonpost.com/busi...0e4656c22aa_story.html?utm_term=.fe8ea8b3189e
