GOP's Swing At Dodd-Frank Could Give Banks Edge In Court
By Evan Weinberger (June 7, 2016, 9:30 PM EDT) -- A sweeping rebuke of the 2010 Dodd-Frank Act unveiled Tuesday by a top House Republican has drawn attention for its proposed rewriting of capital rules and agency structures, but a small portion of the plan could also make it much easier for banks to overturn rules they don't like in court.
Tucked into a speech House Financial Services Committee Chairman Jeb Hensarling gave in New York outlining his plan to replace Dodd-Frank are two sentences that would eliminate the deference that judges give to financial regulators when they are evaluating a challenge to a regulation.
Hensarling's move to eliminate the so-called Chevron deference...
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