House lawmakers are poised to pass the “crown jewel” of the GOP-led regulatory reform effort on Thursday, effectively gutting the Dodd-Frank financial regulations that were put in place during the Obama administration.
Called the Financial Choice Act, the Republican bill seeks to undo significant parts of the 2010 financial reform law.
Crafted by House Financial Services Chairman Jeb Hensarling, the bill is expected to pass despite vehement objections by Democrats to preserve the sweeping law aimed at preventing another financial crisis and protecting American consumers. For any bill to pass in the House, it requires at least 218 votes.
http://money.cnn.com/2017/06/08/news/economy/house-dodd-frank-repeal/index.html