The current administration continues to promise it will roll back various regulations, including a massive overhaul of Dodd-Frank, but that overhaul may have to wait.
Tuesday, President Donald Trump announced the era of “horrible regulations” is coming to an end, saying he plans to give Dodd-Frank a “very major haircut.”
However, the House of Representatives won’t vote on an overhaul until this summer at the earliest, a senior Republican explained, according to an article by Ryan Tracy for The Wall Street Journal.
From the article:
Rep. Patrick McHenry (R., N.C.) said financial regulatory policy could make it to the House floor “when it is warm out…perhaps June, July would be my hope.” The vice chairman of the House Financial Services Committee and Republicans’ chief deputy whip in the House was speaking in an interview with WSJ Pro Financial Regulation.
The article explains the delay is due to the focus on health care as the administration continues to try to repeal and replace the Affordable Care Act.
From the article:
When Republicans do move toward voting on a financial regulatory bill, there is “no question” the House can “pass a major change to financial services law,” Mr. McHenry said. “What the Senate can do from there is an open question,” he added, nodding to the fact major Dodd-Frank changes might face opposition from Senate Democrats.
