empt to repeal legislation such as Dodd-Frank would be misplaced as most direction derives from the tops of regulatory bodies. They also felt Senator Hensarling’s Financial Choice Act would not be a better alternative to Dodd-Frank given the 10% leverage ratio is not a Federal Reserve definition of leverage.

erage ratio. The committee passed the CHOICE Act ona party-line vote in September. The Wells Fargo scandal could pose a hurdle for that plan, because Hensarling’s bill would repeal the Consumer Financial Protection Bureau’s (CFPB) new rules limiting the use of mandatory arbitration clauses in bank contracts.