Tags: Trump Administration | US | Congress | Dodd | Frank | The Latest

GOP-led Panel OKs Bill to Overhaul Dodd-Frank

Image: GOP-led Panel OKs Bill to Overhaul Dodd-Frank
(House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas/AP Images)

Thursday, 04 May 2017 12:36 PM

A House panel has approved legislation that would undo much of the Dodd-Frank law enacted after the 2008 economic meltdown.

The bill cleared the Republican-led House Financial Services Committee by a vote of 34-26.

Republicans are arguing that the law passed under President Barack Obama is slowing economic growth because of the cost of compliance and by curbing lending.

Democrats warn the GOP bill will create the same conditions that led to the financial crisis and pushed the economy to the brink of collapse.

The bill now goes to the full House for a vote, but supporters admit that the path will be much more difficult in the Senate, where Democratic support will be needed.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
1Like our page
2Share
Politics
A House panel has approved legislation that would undo much of the Dodd-Frank law enacted after the 2008 economic meltdown.
US, Congress, Dodd, Frank, The Latest
115
2017-36-04
Thursday, 04 May 2017 12:36 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved