Dismantling the Dodd-Frank Act will be a major target this year for Republicans in both chambers of Congress, according to a Morning Consult commentary. This year, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) will lean more toward idealistic, big-idea policymaking than incremental change. Up until now, he has focused on tweaking Dodd-Frank through small bills that could survive a trip to President Obama’s desk. His committee had success; 22 of its bills were signed into law, including six minor changes to Dodd-Frank. This year, when Hensarling showcases his idealized vision for financial services laws, it is unlikely to meet with much approval from Democrats, according to the commentary. “To answer [House] Speaker [Paul] Ryan’s call, you will see a visionary piece of legislation laying out the Republican vision for banking and capital markets, and as part of that, it will necessarily include repealing large swaths of Dodd-Frank,” Hensarling said.
