New GOP Memo Targets Stress Tests, CFPB in Dodd-Frank Changes
- Republican outlines revised plans for dismantling 2010 law
- Memo to fellow lawmakers lays out updated relief for lenders
Rob Nichols Does Not Expect Full Repeal of Dodd-Frank
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There’s a lot for Wall Street to like in House Republicans’ revised plan to roll back financial rules.
House Financial Services Committee Chairman Jeb Hensarling, who outlined his latest effort in a memo to lawmakers this week, would give banks relief from annual stress tests that assess whether they can survive financial meltdowns. The legislation, which he could introduce as soon as this month, also seeks to eviscerate key powers of the Consumer Financial Protection Bureau.