The power of the Consumer Financial Protection Bureau would be severely curtailed under changes in a Dodd-Frank overhaul bill being contemplated by House Financial Services Chairman Jeb Hensarling, R-Texas.
The Feb. 6 memo to the “Financial Services Leadership Team” is a laundry list of changes Hensarling wants to make when he reintroduces his Financial Choice Act in the coming weeks. The memo dubs the new legislation as “Choice Act 2.0.”
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