House Financial Services Committee Chairman Jeb Hensarling (R-Texas) plans to hold a markup of his Dodd-Frank replacement plan in September, MorningConsult.com reported yesterday. Hensarling (R-Texas) said that he wasn’t ready to commit to a timeline for floor consideration of his proposal. Hensarling had said that he plans to formally introduce the legislation soon after unveiling the broad proposal on June 7. As he’s previously outlined, the measure would significantly alter the Consumer Financial Protection Bureau’s funding and administrative structures, strip the Financial Stability Oversight Council’s of its ability to designate systemically important financial institutions and exempt banks from certain regulations if they meet a 10 percent leverage ratio requirement.
