U.S. Consumer Financial Protection Bureau

Big unwind begins: Republicans target crisis financial rules

Emboldened by a business-friendly president, Republicans in Congress are moving to unwind the stricter regulations that took effect after the 2008 financial crisis and Great Recession.

A House committee takes up legislation Wednesday that would defang the tighter rules. While passage by the GOP-controlled House could come in a few months, the Senate — where Republicans have only 52 of 100 seats — poses an obstacle.

The 2010 Dodd-Frank law was enacted by Democrats and President Barack Obama to respond to the crisis, putting the stiffest restrictions on banks and Wall Street since the 1930s Depression. It clamped down on banking practices and expanded consumer protections to...

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