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.
Johnson, Day and McIlroy miss cut at US Open
So I just need to go home , relax a little bit, hang out with the family and I'll see you at the Open Championship in a month". The soft, forgiving conditions created opportunity for major movement up the leaderboard for those players willing to take it.
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.
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.
Yankees Put Up Football-like Numbers in 13-Run Victory
All-Star CF Adam Jones was feeling better and back in the lineup after receiving a rest Thursday night against Washington. Jonathan Schoop hit an early two-run homer for third-place Baltimore, which dropped 4 1/2 games behind the Yankees .
OnePlus 5 global launch tomorrow
It might look a lot like the iPhone 7, but the leak also confirms that the OnePlus 5 will retain the 3.5mm headphone jack. Operating system: According to what we know now , both the OnePlus 5 and OnePlus 3T have Android 7.1.1 based Oxygen ROM.
79 now believed to have died in London high-rise fire
The commander added that there is a possibility some people who remain in the building "have not been reported" as missing. Some have blamed insulating material that was fitted to the tower's exterior in the refit for the fire's rapid spread.