The GOP-led bill, called the Financial Choice Act, is unlikely to
become law as it isn’t expected to earn enough support in the Senate.
Aspects of the legislation could be implemented by the Trump
administration, but officials there have laid out a more modest agenda.
The administration is expected to release a report next week outlining
its financial regulatory goals.
The Choice Act, expected to
advance through the House along party lines, would mark the first time
Republicans have successfully passed broad legislation aimed at
replacing the 2010 Dodd-Frank financial-overhaul law, the Obama-era
response to the financial crisis.