Rep. Jeb Hensarling (R., Texas), the chairman of the House Financial Services Committee, has introduced new legislation called the Financial CHOICE Act that would repeal and replace the Dodd-Frank Act.
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 was signed into law by President Obama after the financial crisis of 2008 to "promote the financial stability of the United States by improving accountability and transparency in the financial system" and put an end to "too big to fail" banks.
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Source: Washington Free Beacon