House Republicans are retooling their Dodd-Frank overhaul legislation to increase its odds of being enacted, a key House lawmaker said in an interview. The changes are aimed at pacifying enough moderates to avoid trouble in the Senate and averting strife with the incoming administration, MorningConsult.com reported yesterday. Rep. Bill Huizenga (R-Mich.), a senior member of the House Financial Services Committee, said that Republicans are holding internal discussions over changes to the Financial CHOICE Act, a measure sponsored by Committee Chairman Jeb Hensarling (R-Texas). During the presidential campaign, Trump pledged to repeal Dodd-Frank. Many of his financial regulation proposals echo parts of the CHOICE Act, but Trump never publicly embraced Hensarling’s bill. In the Senate, Banking Committee Chairman Richard Shelby (R-Ala.) has been cool to the measure. But he is stepping down from the post and replaced by Sen. Mike Crapo (R-Idaho), who has yet to outline his own plans for the panel.
