Hensarling: Repeal of Dodd-Frank Provisions Will Level Playing Field for Smaller Banks

House Financial Services Committee Chairman Jeb Hensarling (R-Texas) outlined some legislative priorities for the 113th Congress that are likely to give community banks something to cheer about.

In an April 16 speech to the American Bankers Association Government Relations Summit, Hensarling pledged that his committee will focus on repealing or amending sections of the Dodd-Frank Wall Street Reform and Consumer Protection Act that he says give an unfair competitive advantage to the “large, money-center banks.”

Hensarling said the committee will take up legislation to repeal the Financial Stability Oversight Council’s authority to designate systemically important financial institutions (SIFIs) and the ...