Items Tagged with 'Financial CHOICE Act'

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[Watch] Hensarling: Dodd-Frank reform is a this-year priority

Congress only in the beginning stages
House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, is at the forefront of reforming Dodd-Frank, spearheading one of the most prominent options to change the controversial act. His position of authority brings a lot more weight to his recent comments during a CNBC interview where he stated that dealing with Dodd-Frank is a this-year priority.
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Hensarling compares CFPB to a tyranny

House Financial Services Committee Chairman continues assault on CFPB
It’s probably safe to say that House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, is no fan of the Consumer Financial Protection Bureau. And as Hensarling told the Dallas Morning News in a recent interview, there are plenty of good reasons to change the CFPB.
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Say goodbye to the controversial CFPB consumer complaint database?

Leaked memo: CHOICE Act 2.0 may shut it down
The Consumer Financial Protection Bureau’s controversial consumer complaint database might not have much life left. Last week, a memo reportedly from the House Financial Services Committee Chairman revealed plans for an even more aggressive version of the Republican-crafted Financial CHOICE Act, and one item included in the plans is the elimination of the consumer complaint database.
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Hensarling plan for drastic overhaul of CFPB and Dodd-Frank revealed?

More aggressive version of CHOICE act
A new memo about future plans reportedly from House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, reveals an even more aggressive version of the Financial CHOICE Act, the Republican-led effort to repeal and replace Dodd-Frank. The memo, obtained by CNBC’s Ylan Mui, shows the Consumer Financial Protection Bureau is slated to face some of the most drastic changes. Is this finally the end for CFPB Director Richard Cordray?
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Trump signs executive order to overhaul Dodd-Frank

Directs Treasury Secretary to review financial laws
As expected, President Donald Trump signed an executive order on Friday that begins to roll back the Dodd-Frank Wall Street Reform Act, the landmark legislation passed in wake of the financial crisis. “We’re signing new rules for regulating the U.S. financial system. It doesn’t get much bigger than that, right?,” Trump said just before signing the executive order.
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Your handy guide to all of Trump's promised deregulation

Fitch Ratings report highlights potential impact
One of the many promises that Donald Trump made as a candidate was a massive deregulation effort. Now that he is president, Trump is indeed following through and leading a massive deregulation effort. And while there are many moving parts still to be sorted out, it’s clear that deregulation in some form is likely, if not a sure thing. But what will the impact of that deregulation be?
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Senate Republicans unveil bill to replace CFPB director with committee

Will the third time be the charm?
Sens. Deb Fischer, R-Nebraska; John Barrasso, R-Wyoming; and Ron Johnson, R-Wisconsin, introduced a bill this week that would replace the single director of the CFPB with a five-member bipartisan committee, a change the Republican Party has long pushed for. According to Fischer's office, this is actually the third version of this bill, which she previously introduced in 2015 and 2016 to no avail. But will the third time be the charm?
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Pence, Hensarling: Dismantling Dodd-Frank remains a high priority

Top Republicans keep crosshairs trained on financial reforms
It’s been a busy first week in office for President Donald Trump, with executive orders on immigration, energy, trade, health care and more being handed down daily. But executive orders are just the preamble to the big initiatives that Trump and the Republican majority in Congress are expected to push for shortly. Chief among those is the “dismantling” of the Dodd-Frank Wall Street Reform Act.
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Blackstone CEO, leader of Trump's advisory board expects "substantial" reduction in regulations

Steve Schwarzman said changes could be most significant in 45 years
Steve Schwarzman, the chairman and CEO of Blackstone Group, expects to see a “substantial” reduction in government regulations during the term of President-elect Donald Trump. And Schwarzman will be well positioned to help contribute to that regulatory rollback, as he was recently named the leader of Trump’s Strategic and Policy Forum, a group of 16 CEOs who are expected to advise the president-elect on economic issues.
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Monday Morning Cup of Coffee: What's the real impact of landmark CFPB-PHH ruling?

And will housing come up at the last presidential debate?
The mortgage business is still reeling in the wake of the landmark ruling from the United States Court of Appeals for the District of Columbia Circuit, which last week declared the Consumer Financial Protection Bureau's leadership structure unconstitutional and vacated a $103 million fine against PHH. So what's the real impact of the decision? Plus, will they actually discuss housing during the final presidential debate this week?
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