Committee Chairman Jeb Hensarling (R-Texas) will unveil the plan during a speech to the Economic Growth Club of New York on June 7, according to a committee press release. The club’s meeting will take place at The Penn Club, 30 West 44th
Hensarling’s speech is scheduled to begin at 8 a.m. EDT. According to the release, he will detail the Republican plan that would replace the controversial Dodd-Frank Act and “promote economic growth.”
House Republicans have long criticized the Dodd-Frank Act as anti-growth and anti-consumer. Hensarling especially has been hostile to the act, at one point saying it amounted to “regulatory waterboarding.”
“Dodd-Frank should be called the Obama Financial Control Law, because that’s what it is,” Hensarling said in March. “It stands as a monument to the arrogance and hubris of man in that its answer to incomprehensible complexity and government control is yet more incomprehensible complexity and government control.”
Hensarling’s speech on the Republican alternative to the act will be livestreamed June 7 at www.financialservices.house.gov/live
The House Financial Services Committee has announced it will unveil details about a plan to replace the Dodd-Frank Act.