House Speaker Paul Ryan said Friday that a Republican bill to replace President Obama’s bank rules headed to the House floor next week will end bailouts and “too-big-to-fail” banks.
“It will rein in the overreach of Dodd-Frank that has allowed the big banks to get bigger while small businesses have been unable to get the loans they need to succeed,” Ryan, R-Wis., said in a statement, referring to the 2010 Dodd-Frank financial reform law that increased regulation and oversight of the financial sector. “With the Financial CHOICE Act, the era of taxpayer-funded bailouts and too big to fail is over.”
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