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Friday, December 11, 2015

Hensarling to Focus on Reg Reform, Terrorism Financing in 2016

House Financial Services Committee Chairman Jeb Hensarling (R-Texas) will unveil major financial reform legislation in early 2016, according to news reports yesterday. “You will see a visionary piece of legislation laying out the Republican vision for banking and capital markets,” he said. “And as part of that, it will necessarily include repealing huge swaths of Dodd-Frank.”

Hensarling added that the committee will revisit the designation of systemically important financial institutions and the status of Fannie Mae and Freddie Mac as well. He also said the committee will advance legislation on terrorism financing. “It’s part of the critical fuel line of radical Islamic jihadism,” he said. “We are looking at the points where they enter and we will have a legislative response early in the new year.”