With the coming of a new administration led by president-elect Donald Trump, whose transition team has said he plans to “dismantle” the Dodd-Frank Act, legislation put forth by Rep. Jeb Hensarling, H.R. 5983, also known as “the Financial Choice Act” (FCA), is front and center on the national stage.
FCA, which the House of Representatives passed in September, proposes to repeal or amend numerous portions of Dodd-Frank. The second of our two-part series addresses the changes that would be made to directly affect banks, including regulatory relief, a new plan to liquidate the largest banks, and changes to proprietary trading standards enacted in the Dodd-Frank Act.
Read on for more details.