Posted by John C. Dugan and Randy Benjenk, Covington & Burling LLP, on Monday, May 8, 2017
Editor's Note: John C. Dugan is a partner and Randy Benjenk is an associate at Covington & Burling LLP. This post is based on a Covington publication. Additional posts addressing legal and financial implications of the Trump administration are available here.
On April 19, 2017, the House Financial Services Committee (the “Committee”) released a new “discussion draft” of the Financial CHOICE Act, its comprehensive regulatory reform bill (“CHOICE Act 2.0”). The Committee released the first version of the bill (“CHOICE Act 1.0”) in June 2016.
Buoyed by the election of a Republican president, and following several months of public and industry outreach, Committee leadership has made a number of significant changes to the bill. Key changes from the CHOICE Act 1.0 include: