Law360: House GOP To Drive Trump’s Banking Policies

Here (behind paywall).  Excerpt:

While his lack of clarity has left many in the financial services industry wondering what Trump’s win will mean, the presence of Pence in the No. 2 spot is likely to provide a good clue.

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“He’s going to be in an enormously powerful position to influence policy,” Lynyak said of Pence.

If that prediction holds true, and with the gains the Republicans made in the Senate, then Hensarling’s Financial CHOICE Act, unveiled in June, may serve as a guide to the future of financial regulations.

That bill, which moved out of the House Financial Services Committee on a straight party-line vote where Democrats did not even provide amendments, would not entirely repeal Dodd-Frank.

Instead, it would take a hatchet to the Consumer Financial Protection Bureau by putting a commission at its top rather than a single director and putting its funding into the hands of Congress.

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