The battle lines in the House debate over an overhaul of Dodd-Frank were drawn clearly Wednesday, as Republicans touted their legislation to change the financial regulatory regime and Democrats painted the plan as wrongheaded.

"Dodd-Frank has been a greater burden to enterprise than all other Obama-era regulations combined," House Financial Services Chairman Jeb Hensarling (R-Texas) said at the start of a hearing on his Financial CHOICE Act.

Hensarling said that Dodd-Frank led to "politicized lending," and singled out the CFPB as a "rogue agency" that makes up its own law.

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