U.S. House committee set to approve Dodd-Frank revamp

The U.S. House Financial Services Committee is expected on Tuesday to pass a revamp of the Dodd-Frank Wall Street reform law, but the bill is not anticipated to receive President Barack Obama's signature if it ever reaches his desk. The bill, introduced this summer by the committee chairman, Republican Jeb Hensarling, would allow banks to choose between complying with Dodd-Frank or meeting much tougher capital requirements. Dodd-Frank is one of Obama's signature pieces of legislation and the Dem