GOP House panel takes first step to gut Dodd-Frank law
Posted May 5, 2017 04:17:02 AM.
Last Updated May 5, 2017 05:40:08 AM.
This article is more than 5 years old.
WASHINGTON – House Republicans have taken a major step toward their long-promised goal of unwinding the stricter financial rules created after the 2008 crisis.
The lawmakers are pushing ahead with sweeping legislation that would undo much of President Barack Obama’s landmark banking law.
A House panel on Thursday approved Republican-written legislation that would gut much of the Dodd-Frank law enacted by Democrats and signed by Obama in the wake of the financial crisis and the Great Recession.
The party-line vote in the Republican-led House Financial Services Committee was 34-26.
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