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House Republicans Move to Gut Bank Regulations

May 8, 2017

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Republicans took a big step toward repealing the Affordable Care Act on Thursday, and they took a small step toward dismantling another of President Barack Obama’s signature pieces of legislation, the Dodd-Frank Act.

With only the support of Republicans, the House Financial Services Committee voted in favor of the Financial Choice Act, a bill that would gut central financial regulations created in the aftermath of the 2008 financial crisis. The bill is expected to get a vote from the full House in the coming months.

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