House FinServ held the first hearing on the CHOICE Act, Chairman Hensarling’s (R-TX) regulatory reform package (see Client Report REFORM119), providing a preview of the debate in the next Congress if Rep. Hensarling continues to Chair FinServ and/or if the GOP takes the presidency. Unsurprisingly, Committee Democrats made clear that the bill’s current incarnation is a non-starter for them, having long opposed many of its provisions (e.g., restructuring the CFPB, repealing both FSOC SIFI designation authority and OLA).
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