House Financial Service Committee Chairman Jeb Hensarling (R-Texas) is crafting legislation that would repeal huge swaths of the Dodd-Frank financial reform law, The Hill reported today. Hensarling said that the biggest piece of the sweeping legislation would focus on “too big to fail” and the designation of non-bank financial institutions as “systemically important financial institutions” (SIFIs). “There’s no secret here that we do not believe in the entire SIFI regime,” Hensarling said. He balked at nailing down a timeline for the bill when asked whether it could be ready by the spring.
