Those opining that the best thing Congress could do for the financial industry is pass Sen. Mike Crapo’s (R-Idaho) regulatory relief bill without further revisions recently saw a bright flash of hope, courtesy of House Financial Services Committee Chairman Jeb Hensarling (R-Texas).
Ballard Spahr Partner Alan Kaplinsky told Dodd Frank Update Hensarling’s newfound openness to passing the bill as is may be an attempt to save face while backing away from his previously stated intention not to simply “rubber stamp” S. 2155 in its current, Senate-approved form.
Learn more about what Hensarling had to say about the matter and how the industry may have influenced his apparent change of heart.