House To Vote On Bill That Would Overhaul Consumer Watchdog Agency
House to vote on bill that would overhaul consumer watchdog agency
Jessica Wehrman Dispatch Washington Bureau @JessicaWehrman
WASHINGTON — The House is scheduled to vote Thursday on a bill that would drastically roll back the regulations passed by Congress in the wake of the 2008 financial crisis as well as effectively hobble the consumer watchdog agency headed by former Ohio Attorney General Richard Cordray.
The measure — which aims to fulfill a key campaign promise of President Donald Trump’s 2016 campaign — would roll back elements of the 2010 Dodd–Frank Act, allowing banks to opt out of certain rules if they have enough capital. It would also replace the bankruptcy process for banks imposed by …