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Senate Leader Mitch McConnell skeptical of Dodd-Frank reform

Posted by   /  May 18, 2017  /  No Comments

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By Daniel L. Delnero | Consumer Finance Monitor

In a recent Bloomberg interview,

Senate Majority Leader Mitch McConnell

expressed skepticism about the Senate’s ability to pass meaningful Dodd-Frank reform. After months of inactivity, the House Financial CHOICE Act finally moved out of committee to the House floor where a vote by the full House is expected in June.

Several other bills aimed at reforming the CFPB have been introduced by various Republican lawmakers in the House and Senate. This legislative action would seem to suggest that CFPB reform was a real possibility. Senator McConnell, however, cast renewed doubt on the prospects of reform, to the disappointment of many in the banking and finance industry.

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