Democrats dig in, delay against Dodd-Frank overhaulWASHINGTON (Reuters) - Democrats in the U.S. House of Representatives opposed to Republican legislation that would repeal major sections of the Dodd-Frank financial reform law on Tuesday made multiple efforts to delay the bill. The House Financial Services Committee was due to consider Representative Jeb Hensarling’s sweeping bill to rework the 2010 law. In addition to eliminating large portions of Dodd-Frank - enacted in the wake of the global financial crisis - it would put new handcuffs on regulators charged with writing and enforcing its rules. The partisan maneuvering to slow work on the bill demonstrated how divided the two parties are regarding rules for the financial sector, casting doubt on Congress’s ability to revisit them significantly despite Republican President Donald Trump’s vow to “do a number” on existing regulations. First, Democrats ordered a vote on whether the committee even wanted to actually consider the bill. That amendment passed with support from only the Republican majority. Then, Democrats ordered that all 589 pages of the law be read out loud by the committee clerk. The reading of legislative language is almost always waived by committee members when considering a bill. After about 3-1/2 hours of the bill being read to a largely empty committee room, Democrats agreed to shelve that request and proceed to the amendments they wanted to offer. Democrats had drawn up roughly 140 amendments they wanted to offer to change the bill, according to a House aide. But that number is expected to shrink as the two parties work out a path forward. Hensarling announced on Tuesday that despite earlier plans to vote on amendments to the bill throughout the day, no votes would be held on the bill until Wednesday morning at the earliest. The procedural obstacles were all aimed at a bill that is not expected to actually become law, as the sweeping rewrite of Dodd-Frank is not expected to garner enough support in the Senate, which the Republicans hold by a slim majority.  But it is expected to pass the Republican-led House, and the skirmish over it was a clear indication of how much Democrats are willing to dig in on measures that would make life easier for the financial sector. “This is one of the worst bills I’ve seen in my time in Congress,” said Representative Maxine Waters, the committee’s top Democrat, as the committee began debate on the measure. “The bill is rotten to the core, and simply carries water for Trump and his buddies on Wall Street.” Hensarling’s bill would allow large banks to avoid most Dodd-Frank rules if they agree to establish a 10 percent capital ratio, and also scraps several powers given to regulators after the financial crisis to more closely scrutinize some of the nation’s largest institutions. It also makes several changes to the Consumer Financial Protection Bureau, severely limiting its power and giving Congress and the White House more direct control over its operations and funding. politicsNews
democrats dig delay overhaulwashington reuters democrats house representatives opposed republican legislation would repeal major sections financial reform law tuesday made multiple efforts delay bill the house financial services committee due consider representative jeb hensarling sweeping bill rework law in addition eliminating large portions enacted wake global financial crisis would put new handcuffs regulators charged writing enforcing rules the partisan maneuvering slow work bill demonstrated divided two parties regarding rules financial sector casting doubt congress ability revisit significantly despite republican president donald trump vow number existing regulations first democrats ordered vote whether committee even wanted actually consider bill that amendment passed support republican majority then democrats ordered pages law read loud committee clerk the reading legislative language almost always waived committee members considering bill after hours bill read largely empty committee room democrats agreed shelves request proceed amendments wanted offer democrats drawn roughly amendments wanted offer change bill according house aide but number expected shrink two parties work path forward hensarling announced tuesday despite earlier plans vote amendments bill throughout day votes would held bill wednesday morning earliest the procedural obstacles aimed bill expected actually become law sweeping rewrite expected garner enough support senate republicans hold slim majority but expected pass house skirmish clear indication much democrats willing dig measures would make life easier financial sector this one worst bills i seen time congress said representative marine waters committee top democrat committee began debate measure the bill rotten core simply carries water trump buddies wall hensarling bill would allow large banks avoid rules agree establish percent capital ratio also scraps several powers given regulators financial crisis closely scrutinized nation largest institutions it also makes several changes consumer financial protection bureau severely limiting power giving congress white house direct control operations funding 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: Democrats dig in, delay against Dodd-Frank overhaulWASHINGTON (Reuters) - Democrats in the U.S. House of Representatives opposed to Republican legislation that would repeal major sections of the Dodd-Frank financial reform law on Tuesday made multiple efforts to delay the bill. The House Financial Services Committee was due to consider Representative Jeb Hensarling’s sweeping bill to rework the 2010 law. In addition to eliminating large portions of Dodd-Frank - enacted in the wake of the global financial crisis - it would put new handcuffs on regulators charged with writing and enforcing its rules. The partisan maneuvering to slow work on the bill demonstrated how divided the two parties are regarding rules for the financial sector, casting doubt on Congress’s ability to revisit them significantly despite Republican President Donald Trump’s vow to “do a number” on existing regulations. First, Democrats ordered a vote on whether the committee even wanted to actually consider the bill. That amendment passed with support from only the Republican majority. Then, Democrats ordered that all 589 pages of the law be read out loud by the committee clerk. The reading of legislative language is almost always waived by committee members when considering a bill. After about 3-1/2 hours of the bill being read to a largely empty committee room, Democrats agreed to shelve that request and proceed to the amendments they wanted to offer. Democrats had drawn up roughly 140 amendments they wanted to offer to change the bill, according to a House aide. But that number is expected to shrink as the two parties work out a path forward. Hensarling announced on Tuesday that despite earlier plans to vote on amendments to the bill throughout the day, no votes would be held on the bill until Wednesday morning at the earliest. The procedural obstacles were all aimed at a bill that is not expected to actually become law, as the sweeping rewrite of Dodd-Frank is not expected to garner enough support in the Senate, which the Republicans hold by a slim majority.  But it is expected to pass the Republican-led House, and the skirmish over it was a clear indication of how much Democrats are willing to dig in on measures that would make life easier for the financial sector. “This is one of the worst bills I’ve seen in my time in Congress,” said Representative Maxine Waters, the committee’s top Democrat, as the committee began debate on the measure. “The bill is rotten to the core, and simply carries water for Trump and his buddies on Wall Street.” Hensarling’s bill would allow large banks to avoid most Dodd-Frank rules if they agree to establish a 10 percent capital ratio, and also scraps several powers given to regulators after the financial crisis to more closely scrutinize some of the nation’s largest institutions. It also makes several changes to the Consumer Financial Protection Bureau, severely limiting its power and giving Congress and the White House more direct control over its operations and funding. 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: democrats dig delay overhaulwashington reuters democrats house representatives opposed republican legislation would repeal major sections financial reform law tuesday made multiple efforts delay bill the house financial services committee due consider representative jeb hensarling sweeping bill rework law in addition eliminating large portions enacted wake global financial crisis would put new handcuffs regulators charged writing enforcing rules the partisan maneuvering slow work bill demonstrated divided two parties regarding rules financial sector casting doubt congress ability revisit significantly despite republican president donald trump vow number existing regulations first democrats ordered vote whether committee even wanted actually consider bill that amendment passed support republican majority then democrats ordered pages law read loud committee clerk the reading legislative language almost always waived committee members considering bill after hours bill read largely empty committee room democrats agreed shelves request proceed amendments wanted offer democrats drawn roughly amendments wanted offer change bill according house aide but number expected shrink two parties work path forward hensarling announced tuesday despite earlier plans vote amendments bill throughout day votes would held bill wednesday morning earliest the procedural obstacles aimed bill expected actually become law sweeping rewrite expected garner enough support senate republicans hold slim majority but expected pass house skirmish clear indication much democrats willing dig measures would make life easier financial sector this one worst bills i seen time congress said representative marine waters committee top democrat committee began debate measure the bill rotten core simply carries water trump buddies wall hensarling bill would allow large banks avoid rules agree establish percent capital ratio also scraps several powers given regulators financial crisis closely scrutinized nation largest institutions it also makes several changes consumer financial protection bureau severely limiting power giving congress white house direct control operations funding politicsnews