The new legislation, known as the Financial CHOICE Act, is the signature legislative effort of U.S. Rep. Many observers believe that the law, enacted in the wake of the financial collapse of 2008, has smothered the financial system and inhibits #Economic Growth through overregulation. Supporters have argued the regulations have become too burdensome and unfair.
All five of Kentucky's Republican representatives voted in favor of the legislation, the only Democrat in the delegation, Rep. John Yarmuth, voted against it.
"Unrestrained greed on Wall Street caused a preventable disaster because at no point did anyone say: This is simply wrong", Crist said before the House approved the measure.
"I've spent my career taking on the big banks and other financial institutions that take advantage of the people they are supposed to serve", Caforio said. "They promised us it would lift the economy, Mr. Chairman, but instead we are still stymied in the weakest, slowest recovery in the post-war era".
Lance added that those who have lost the most under Dodd-Frank are those who can't afford to take their business elsewhere. And while corporations in big cities can access capital from large banks, that's simply not the case for many businesses and job creators in Missouri. "Democrats have shown we're willing to work with Republicans to tailor the rules where it makes sense, but not if it means killing the reforms that have made the financial system safer and fairer".
Republican leaders have said the deregulation bill would solve numerous worries about the financial system stemming from the crisis while allowing banks to more freely lend to invigorate the economy.
The GOP claims the regulatory law prevented a true recovery from the so-called "great recession", while Democrats counter that its reforms are necessary to prevent another economic calamity. But in the push to overhaul Dodd-Frank, Republicans said the biggest banks have only gotten bigger while local banks and credit unions are dwindling.
Republicans argued Dodd-Frank's regulations slowed lending and made it more hard for small businesses to receive loans.
French Open set for new women's champ
Eleven points later, Mladenovic made another error , but this time she had two game points to play with for a 5-5 deadlock. She might lead the tournament in terms of double faults, having served 40 of them since it started - 16 yesterday.
Now bring cricket to Pakistan: Sarfraz
He raised hopes of pulling off a one-man Indian Houdini act as he hit three successive sixes to reach his half century. After completing his century and adding 72 runs for the second wicket with Azam, Zaman tried to up the ante.
BJP to meet Sonia over Presidential election
At that point, neither did the Congress hold any such consultations with other parties, nor with its own leadership. First off, the objective is to get president and vice-president who come from RSS.
Handel, Ossoff call on help in final days of Georgia race
He reminded his former constituents of the district's GOP pedigree, electing eventual Speaker Newt Gingrich and future U.S. The man credited by law enforcement with holding two Georgia prison escapees at gunpoint says he's no hero.