Economy

GOP’s Dodd-Frank replacement clears House panel

By Joseph Lawler
Published September 13, 2016 4:57pm ET
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GOP’s Dodd-Frank replacement clears House panel
Committee Chairman Jeb Hensarling, of Texas, said the measure was meant to substitute "market discipline for government control" and that the legislation would end bailouts. (AP Photo) | Charles Dharapak

Republicans’ alternative to President Obama’s 2010 financial reform law cleared a House panel Tuesday morning, advancing to the full House on a mostly party-line vote.

The vote in the House Financial Services Committee was 30-26. One Republican, Bruce Poliquin of Maine, voted against approving the legislation.

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Congress Credit Cards Dodd-Frank Act Federal Reserve Finance Jeb Hensarling Joseph Lawler Minusextra Regulations