Bank on It: House Passes Dodd-Frank Rollback

The House of Representatives is expected to pass the Financial Choice Act on Thursday, the Wall Street Journal reported, which would be the first time Republicans have successfully passed legislation aimed at replacing Dodd-Frank, the regulatory law that governs Wall Street.

Though the bill is expected to die in the Senate, where Republicans have a slimmer majority than they do in the House, certain aspects of the legislation could be implemented by the Trump administration.

"Dodd-Frank represents the greatest regulatory burden on our economy," Rep. Jeb Hensarling (R-TX), the bill's author, said Wednesday.

This article was written by a staff member of TheStreet.