US Rep. Hensarling: Revamping Dodd-Frank is a 'this-year priority'

February 7, 2017 22:42

WASHINGTON - The chairman of the US Financial Services Committee on Tuesday told CNBC that revamping the 2010 Dodd-Frank Wall Street reform law remains a "this-year priority" for President Donald Trump, Vice President Mike Pence and House Speaker Paul Ryan.

The chairman, Texas Republican Jeb Hensarling, said he would soon re-introduce his legislation that gives banks a choice between complying with Dodd-Frank and holding more capital.

While the bill is expected to easily pass the Republican-led House, it will face resistance in the Senate, where Democrats hold enough seats to filibuster. Pence is also the most powerful member of the Senate, and can cast votes in order to break ties on legislation.

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