A House of Representatives committee approved legislation to rewrite critical sections of the 2010 Dodd-Frank Act, and this week the Senate is expected to begin the process of rolling back financial regulations.
The House Financial Services Committee passed the Financial Choice Act to repeal large sections of the legislation, which was established during former President Barack Obama's reign to hold big banks accountable and to prevent another financial crisis.
While the House acted quickly and voted along party lines, experts said they expect the Senate to move slowly on the issue of financial regulation and to try to achieve bipartisan agreement, CoStar reports.
Investors and commercial real estate executives were excited by the prospect of decreased financial regulation prior to President Donald Trump’s election, but that optimism has dampened after Trump failed to achieve healthcare reform. While some experts said they believe financial deregulation will benefit markets, others said they do not think it will have much of an impact and are more focused on fundamentals.
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