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Hensarling to Propose Dodd-Frank Replacement Bill

Measure would give banks relief from annual stress tests.

By Elizabeth Dexheimer, Bloomberg | Updated on April 13, 2017

House Financial Services Committee Chairman Jeb Hensarling plans to release his revised proposal to scrap much of the Dodd-Frank Act by the end of the month.

The Texas Republican’s new bill would give banks relief from annual stress tests that assess whether they can survive financial meltdowns and would strip the Consumer Financial Protection Bureau of key powers. It’s an update of legislation he proposed last year, dubbed the Financial Choice Act, that stalled in Congress.

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