House GOP backs bill to undo much of Dodd-Frank

U.S. Congressman Mac Thornberry (R-Clarendon) voted today in support of H.R 10, the "Financial CHOICE Act," that passed by a vote of 233-186.

While across Capitol Hill on Thursday the Senate was drawing attention for its hearing with James Comey, the fired Federal Bureau of Investigation director, the House passed a bill to roll back some of the strongest Wall Street regulations from the financial crisis.

"The bill even specifically exempts payday and vehicle title lenders - notorious for springing devastating debt traps for their already vulnerable customers - from any regulation", added Yana Miles, senior legislative counsel for the Center for Responsible Lending.

With the former Federal Bureau of Investigation director openly calling the president a lawless liar, it would be easy for liberals to forget to save some contempt for the rest of the Republican Party. "They are setting the stage for Wall Street to run amok and cause another financial crisis", Waters said in a statement on Thursday. The law created a myriad of regulatory agencies with vague rules that have been fleshed out by unelected regulators, which during the Obama era tended to be hostile to private business. This database lets the agency identify patterns of abuse and allows the public to learn more information about companies - so limiting its use is risky for consumers. With the bill's passage, the fight for regulatory reform now shifts to the Senate.

Centre reaches out to Opposition for consensus over presidential polls
The BJP leaders had simply met the Opposition to ask for cooperation and to ask if any name had been finalised by them. The Congress leader said the BJP was seeking cooperation but his party did not know what is on their mind.

"We will replace bailout with bankruptcy".

Republicans argue that regulations under Dodd-Frank have throttled the banking industry and made it hard for small business and individuals to receive loans. "Do not let them do it again". "What we have actually seen since 2014, is a steady but modest increase in lending, including to communities of color".

According to the House Committee on Financial Services, we lose one community bank or credit union per day. It would no longer be able to write major rules regulating consumer financial companies, such as debt collectors, without getting approval from Congress. "It will destroy our only consumer financial protection agency", Lynch said.

The CHOICE Act is the most ambitious Republican effort to roll back parts of the law fiercely defended by Democrats under former President Barack ObamaBarack ObamaTrump, Meryl Streep share screen time in HBO film Former attorney general: Lynch made Justice Department "an arm of the Clinton campaign" Trump reopens hundreds of immigration cases: report MORE. The vote was along party lines except for one Republican, Rep. Walter Jones of North Carolina, who voted against the bill. The Dodd-Frank provision championed by former Federal Reserve Chairman Paul Volcker is meant to keep banks from taking gambles that could lead to a government bailout.

Related News:

  • Sturgeon's dreams of a second Scottish independence referendum shattered by new poll

    Some 36% of those quizzed said Ms Sturgeon should resign as First Minister, but a larger percentage - 47% - said she should stay on.

    Saudi foreign minister says working on list of Qatar 'grievances'

    Tensions between Qatar and Gulf Arab neighbors have grown apace in recent years as part of a struggle for regional leadership. Bush administrations have rarely criticized in public Qatar's hosting of extremists or lax regulations on terror financing.

    Curry, Durant committed to keeping Golden State on top

    I thought we gave the right amount of fight, the right amount of physicality, and they beat us tonight. Warriors coach Steve Kerr has ripped into Trump several times, the last he called Trump a "blowhard".
  • Fans already lining up for Penguins' Stanley Cup parade

    Fans already lining up for Penguins' Stanley Cup parade

    They know it will be tough to three-peat, but after winning two in a row, it's naturally their goal. "These guys are fierce competitors", coach Mike Sullivan told the crowd.

    Kershaw wins, Bellinger hits 2 homers as Dodgers top Indians

    Puig crushed a two-run homer in the Dodgers' 7-5 win against the Cleveland Indians and gave a double middle-finger salute to fans. Mike Piazza had five such games in 1993 and Corey Seager had four games in 2016.

    Patty Jenkins is already thinking about Wonder Woman 2

    This news comes from the same source, THR , who now reports that Jenkins' deal with Warner Bros . was to only direct one film. Add to that, it's the first big-budget superhero feature led by a woman director, Patty Jenkins .
  • After 2nd Lakers workout, Lonzo Ball may talk with more teams

    After 2nd Lakers workout, Lonzo Ball may talk with more teams

    Lonzo goes on to thank his dad just for being there at all, knowing many kids grow up without a father figure in their lives. Despite the statement of his father Lavar Ball , "That's all we working out for is the Lakers, Just the Lakers".
    Michael Phelps to swim in a race against a shark

    Michael Phelps to swim in a race against a shark

    During Discovery Channel's Shark Week , Phelps will participate in the special event " Shark: Great Gold Vs Great White ". Michael Phelps has proven time and time again that he is one of the fastest humans to ever enter the water.

    Jeremy Corbyn keeps his eyes on Downing Street

    Instead, the result has sown confusion and division in British ranks, just days before negotiations are due to start on June 19. European officials are anxious that the weaker position of the Conservatives make a breakdown in negotiations more likely.
  • Red Sox announcer Remy says Tanaka shouldn't get translator

    Red Sox: LHP Brian Johnson threw a bullpen for Triple-A Pawtucket and felt fine after recently tweaking his hamstring. Zunino, who hit a solo shot in the third, sent a 2-1 pitch over the wall in center field for his fourth home run.
    Ohio Congressmen Wenstrup and Johnson unharmed after shooting in Virginia

    Ohio Congressmen Wenstrup and Johnson unharmed after shooting in Virginia

    When the shooting stopped, Wenstrup and other congressmen ran to Scalise, who had dragged himself off the infield, Sen. He was described as wielding a 30-caliber rifle, though police didn't identify the make or model of the weapon.
    Adam West honored with Bat-signal display at LA City Hall

    Adam West honored with Bat-signal display at LA City Hall

    Before the lighting, people lined up to take photos with two red-and-black, sharp-finned Batmobiles parked on the sidewalk. The Bat-Signal has lit up Los Angeles City Hall in honour of the late Caped Crusader Adam West , days after his death.


Most liked

Alexandria Shooting: President Trump Confirms Gunman Has Died
Clair Sheriff's Office were called when locals heard "shots fired" in a residential neighborhood, according to police records. Information is starting to come in about the suspect in a shooting at a congressional baseball practice in Virginia Wednesday.

Sheriff: Pilot in blimp crash seriously burned
The statement went on to say the pilot was being treated for unidentified injuries and that no other people were involved. He hit that shot onto the green, but needed three putts to get down. "I just didn't putt very well, " Johnson said .

Former President Obama reached out to Republican senator after Virginia shooting
Flake is credited with tending to at least two wounded teammates before medics arrived at the scene. Flake revealed that Obama phoned him during interviews following the shooting that injured Rep.

Centre rushes 400 more paramilitary to Darjeeling; total 1400
A senior police official told IBNS, "Since the wee hours of Friday, strike supporters set several Government buildings on fire". The BJP has been grappling with a dilemma as overt support to the Gorkhaland cause is expected to exact a price in the plains.

'Anxiety and fear' over Tory-DUP deal: Sinn Fein
An election in March saw the Protestant, pro-British DUP finish narrowly ahead of Catholic socialists Sinn Fein . May has said she wants a new customs union deal with the bloc, an idea EU officials have snubbed so far.

AG Rosenstein sees no reason to fire Mueller
Doubt, however, has been cast on that explanation because of cryptic testimony from former FBI Director James Comey last week. Ruddy originally shared his belief with PBS' Judy Woodruff on " PBS NewsHour " Monday after visiting the White House earlier.

You'll now get fewer annoying review prompts on your iPhone and iPad
An app can only display the prompt three times a year , regardless of how often it's been updated. And, it will be possible to disable these review prompts entirely starting in iOS 11.

Senate Panel Meets With Special Counsel Robert Mueller in Russia Probe
Mr Comey testified in a Senate hearing last week that he believed he was sacked "because of the Russian Federation investigation". Richard Burr, R-N.C., listen on Capitol Hill in Washington, Tuesday, June 13, 2017, as Attorney General Jeff Sessions.

How major US stock market indexes fared on Friday
Courtney Hiddeman and her family live right down the street from the Whole Foods "world headquarters" on Bowie Street in Austin. Amazon has agreed to pay $42 per share in cash for Whole Foods , a 27 percent premium on its closing share price on Thursday.

Northern Ireland's DUP says talks with Conservatives to continue in London
After House Speaker John Bercow was re-elected without challenge, a chastened May quipped: "At least someone got a landslide". The "supply and confidence" deal would see the DUP back the Conservatives in votes on the Budget and confidence motions.

LeBron James Says He Didn't Start Superteams in Response to Draymond Green
James has said that he would like to, at some point, play with all of his friends - Chris Paul , Carmelo Anthony , Dywane Wade . The response was equally straightforward in James' view. "Yeah, that was amusing ; that was real amusing ", he said.

British PM May faces mounting criticism over London tower block blaze
These were hard conversations with a tight-knit community that is understandably distraught, frustrated and increasingly angry. They cited a series of unanswered issues including whether the cladding used on the building helped the blaze spread.

Warriors Green makes fun of Cavaliers
LeBron James and Draymond Green have been trolling each other on social media and they are officially the kings of pettiness. So, I was waiting on this moment. "I can't forget the " Ultimate Warrior " t-shirt past year ", Green said Thursday.

No deal yet between UK Conservatives and DUP to back PM May
She herself will travel there three days later for a summit on June 22 and 23 with the other 27 European Union national leaders. May needs the support of the DUP to govern, after a disastrous election result in which she lost her parliamentary majority.

EU, UK fix date to begin Brexit negotiations
The British Brexit minister, David Davis, will open the talks with the EU's chief negotiator, Michel Barnier, supported by officials on both sides.