10) is a bill introduced to the 115th United States Congress in 2017 that would, if enacted, roll back "many of the protections in the landmark Dodd-Frank 2010 federal law, including the "strongest" Wall Street "regulations from the financial crisis.
[2] The next stage is in the Senate where, under the leadership of chairman Mike Crapo (R-ID), they are taking a "bipartisan approach" to craft their own "regulatory relief bill for Wall Street and community banks" that would be able to "clear a 60-vote threshold".
[7][8][9] If the legislation is passed, the president would have the power to fire directors of the Federal Housing Finance Agency (FHFA) "which oversees mortgage giants Fannie Mae and Freddie Mac", and the Consumer Financial Protection Bureau (CFPB).
The CFPB will no longer have the authority to prohibit Unfair, Deceptive, or Abusive Acts or Practices and will be limited to enforcement actions and rules derived directly from consumer protection laws.
[11] Dodd-Frank's Orderly Liquidation Authority, "which allows the federal government to step in if a bank is near collapse to provide a backstop to ensure the institution's failure would not spread to the rest of financial system", would be eliminated.