House GOP vows to offer Dodd-Frank overhaul bill by end of April

President Barack Obama announces the nomination of Richard Cordray as the first director of the CFPB on July 18, 2011/Wikimedia Commons

By Donna Borak | CNN Money

A top House Republican lawmaker plans to roll out a new draft of his bill overhauling the Dodd-Frank Act, the sweeping financial reform law passed by Congress in 2010, by the end of April.

In a statement to reporters Tuesday, a spokeswoman for House Financial Services Chairman Jeb Hensarling said he has set a deadline of unveiling an updated version of his bill to unwind the law “in the next few weeks.”

Until now, the Texas lawmaker and his staff have refrained from offering a specific timeline on when he might release his Dodd-Frank overhaul bill. Instead, the committee has been relaying the message that it could be “weeks” before a bill would be released — and by “weeks” that “could be two weeks or 52 weeks,” a lobbyist from a large bank told CNNMoney on Monday.

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