The Financial CHOICE Act H.R. 10 (see link below) put forward by the GOP seeks to unravel major components of the Dodd-Frank Act enacted in 2010 under the Obama administration.

The main argument from House Republicans is the Dodd Frank is overzealous and inhibits the efficient functioning of the financial machinery and by extension growth in the economy.

Democrats argue that strict discipline and oversight is necessary in the financial industry and that without these “checks and balances”, another Great Recession would be in the making.

Link: http://caribbeanbusiness.com/democrats-seek-to-protect-watchdog-as-gop-tackles-dodd-frank/

Link to Financial CHOICE Act H.R. 10: https://financialservices.house.gov/uploadedfiles/hr_10_the_financial_choice_act.pdf

Link to Summary of the main changes proposed in the Financial CHOICE Act: https://financialservices.house.gov/uploadedfiles/financial_choice_act-_executive_summary_final.pdf