Republicans advance Dodd-Frank rewrite in House

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Washington Examiner

House Republicans advanced a bill Thursday that would significantly rewrite President Obama's post-crisis banking rules, and have broad implications for almost every aspect of the financial system.
After two lengthy days of debate drawn out by Democratic stalling tactics, the House Financial Services met a third time Thursday morning to pass the Financial CHOICE Act. The panel sent the bill to the House in a partisan 34-26 vote.
The centerpiece of the legislation, written by the committee's conservative chairman, Jeb Hensarling of Texas, would allow banks to opt out of many of the rules set up by the 2010 Dodd-Frank law if they maintain a high level of capital.