News and Events for Attorneys and Executives

Republican Plan Would Ease Wall St. Rules, As Party Embraces Deregulation

Bank sign

Image by Mark Moz

Jeb Hensarling, chairman of the U.S. House Financial Services Committee, outlined proposed legislation to clear away many rules bankers say have hobbled investment and economic growth in a staff memo reported by Reuters.

Hensarling’s plan would roll back Wall Street rules and consumer protections conceived after the 2008 financial crisis, a step that will largely define the financial deregulation debate in the Trump era.

“Under Hensarling’s plan, the largest U.S. banks would face less oversight — though not as little as they had been hoping for – while startups would have easier access to investors,” writes reporter Patrick Rucker.

Read the Reuters article.