GOP’s Dodd-Frank replacement clears House panel

By Joseph Lawler

Published September 13, 2016 4:57pm ET

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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