Hensarling Said to Target Volcker Rule in Bid to Undo Dodd-Frank
- Republican’s plan also would change Consumer Bureau structure
- Proposal comes as Donald Trump looks to lay out his agenda
This article is for subscribers only.
A key House Republican will look to overturn Volcker Rule limits on banks trading with their own capital and change the structure of the Consumer Financial Protection Bureau as part of a broader effort to overturn the Dodd-Frank Act, according to people familiar with the matter.
Representative Jeb Hensarling of Texas, chairman of the House Financial Services Committee, also will propose sparing banks that meet certain capital levels from the strictest requirements of the 2010 law and would revoke regulators’ ability to determine which firms are systemically important, according to the people, who requested anonymity because the plan isn’t public.