How House bill would dismantle Dodd-Frank reforms

Source: Victoria Finkle, N.Y.Times (Paid Registration)

The House of Representatives is preparing to vote on Thursday on a bill intended to make sweeping changes to the financial regulatory system. Here are some of the most significant changes in the nearly 600-page Financial Choice Act:

The Consumer Financial Protection Bureau, a core creation of Dodd-Frank, would be significantly overhauled by the bill. The bureau would be restructured as an executive-branch agency with a single director who could be removed at will by the president. Right now, the director — currently Richard Cordray — can be removed only for cause.

 

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