House Passes Texas Republican's Years-long Push to Repeal Obama-era Banking Rules

WASHINGTON -- A years-long push by Dallas Rep. Jeb Hensarling to roll back the far-reaching banking regulations created after the Great Recession on Thursday reached a new zenith, clearing the House thanks to solid Republican support.The chamber voted 233-186 along party lines to OK the Texan's Financial Choice Act, a nearly 600-page bill that guts the massive Dodd-Frank overhaul that he calls the "greatest imposition of regulation on our business enterprises than all other Obama-era regulations combined.""What is most urgent is getting a regulatory life preserver to our community financial institutions," Hensarling said, before critiquing Dodd-Frank. "Ostensibly, they aimed it at Wall Street, but instead Main Street got hit."  Continue reading...

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