Revamping Dodd-Frank a 'this-year priority': U.S. lawmakerWASHINGTON (Reuters) - The chairman of the U.S. Financial Services Committee told CNBC on Tuesday that revamping the 2010 Dodd-Frank Wall Street reform law remained a “this-year priority” for President Donald Trump, Vice President Mike Pence and House Speaker Paul Ryan. Republican Representative Jeb Hensarling said he would soon reintroduce his legislation that gives banks a choice between complying with Dodd-Frank and holding more capital. While the bill is expected to easily pass the Republican-led House, it will face resistance in the Senate, where Democrats hold enough seats to filibuster. Pence can cast votes to break ties on legislation. On Friday, Trump ordered a review of Dodd-Frank’s effects on business and the economy, which raised the possibility he may use his executive powers to block, undo or kill by neglect parts of the law on his own. The law, passed to prevent a repeat of the 2007-09 financial crisis, subjects banks to greater oversight and expands regulation of derivatives. Supporters say it has made the financial system stronger, while critics say it has entangled corporations in regulation that hurts the economy. Hensarling said on Tuesday he had conferred with Trump about his legislation, known as the “CHOICE act,” and the president seemed to support much of it. While Hensarling used sharp words to describe the agency created by Dodd-Frank to guard individuals against predatory lending, the Consumer Financial Protection Bureau, he did not say how it would be addressed in his bill.  Calling the CFPB a “rogue agency,” Hensarling said Trump should fire its sole director, Richard Cordray, after a U.S. court ruled in October its structure was unconstitutional. That decision has been stayed pending appeal. politicsNews
renaming priority lawmakerwashington reuters the chairman financial services committee told cnbc tuesday renaming wall street reform law remained priority president donald trump vice president mike pence house speaker paul ryan republican representative jeb hensarling said would soon reintroduce legislation gives banks choice complying holding capital while bill expected easily pass house face resistance senate democrats hold enough seats filibuster pence cast votes break ties legislation on friday trump ordered review effects business economy raised possibility may use executive powers block undo kill neglect parts law the law passed prevent repeat financial crisis subjects banks greater oversight expands regulation derivatives supporters say made financial system stronger critics say entangled corporations regulation hurts economy hensarling said tuesday conferred trump legislation known choice act president seemed support much while hensarling used sharp words describe agency created guard individuals predatory lending consumer financial protection bureau say would addressed bill calling cfb rogue agency hensarling said trump fire sole director richard portray court ruled october structure unconstitutional that decision stayed pending appeal politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Revamping Dodd-Frank a 'this-year priority': U.S. lawmakerWASHINGTON (Reuters) - The chairman of the U.S. Financial Services Committee told CNBC on Tuesday that revamping the 2010 Dodd-Frank Wall Street reform law remained a “this-year priority” for President Donald Trump, Vice President Mike Pence and House Speaker Paul Ryan. Republican Representative Jeb Hensarling said he would soon reintroduce his legislation that gives banks a choice between complying with Dodd-Frank and holding more capital. While the bill is expected to easily pass the Republican-led House, it will face resistance in the Senate, where Democrats hold enough seats to filibuster. Pence can cast votes to break ties on legislation. On Friday, Trump ordered a review of Dodd-Frank’s effects on business and the economy, which raised the possibility he may use his executive powers to block, undo or kill by neglect parts of the law on his own. The law, passed to prevent a repeat of the 2007-09 financial crisis, subjects banks to greater oversight and expands regulation of derivatives. Supporters say it has made the financial system stronger, while critics say it has entangled corporations in regulation that hurts the economy. Hensarling said on Tuesday he had conferred with Trump about his legislation, known as the “CHOICE act,” and the president seemed to support much of it. While Hensarling used sharp words to describe the agency created by Dodd-Frank to guard individuals against predatory lending, the Consumer Financial Protection Bureau, he did not say how it would be addressed in his bill.  Calling the CFPB a “rogue agency,” Hensarling said Trump should fire its sole director, Richard Cordray, after a U.S. court ruled in October its structure was unconstitutional. That decision has been stayed pending appeal. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: renaming priority lawmakerwashington reuters the chairman financial services committee told cnbc tuesday renaming wall street reform law remained priority president donald trump vice president mike pence house speaker paul ryan republican representative jeb hensarling said would soon reintroduce legislation gives banks choice complying holding capital while bill expected easily pass house face resistance senate democrats hold enough seats filibuster pence cast votes break ties legislation on friday trump ordered review effects business economy raised possibility may use executive powers block undo kill neglect parts law the law passed prevent repeat financial crisis subjects banks greater oversight expands regulation derivatives supporters say made financial system stronger critics say entangled corporations regulation hurts economy hensarling said tuesday conferred trump legislation known choice act president seemed support much while hensarling used sharp words describe agency created guard individuals predatory lending consumer financial protection bureau say would addressed bill calling cfb rogue agency hensarling said trump fire sole director richard portray court ruled october structure unconstitutional that decision stayed pending appeal politicsnews