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House Set to Roll Back Finance Rules in Rare Bipartisan Move

One expert says, “This is ultimately a narrow package of reforms." Questions remain about the Senate response to this bill.

By Elizabeth Dexheimer | Updated on July 17, 2018
Maxine Waters, a Democrat from California and ranking member of the House Financial Services Committee, left, speaks with Representative Jeb Hensarling, a Republican from Texas and chairman of the House Financial Services Committee. Photographer: Al Drago/Bloomberg

Jeb Hensarling and Maxine Waters don’t agree on much but they’ve reached a compromise on a plan for dialing back financial rules that is poised to pass the U.S. House this week.

The legislative package, which Hensarling and Waters unveiled Monday, is largely aimed at making it easier for companies to raise money by lowering barriers to invest in startups and simplifying regulations for businesses to go public. Most of the 32 bills included make minor, incremental changes to existing rules. Others have already been adopted by federal agencies such as the Securities and Exchange Commission. House lawmakers may vote on the measure as soon as Tuesday, which would send it to the Senate.

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