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GOP platform includes key provisions of Hensarling's Dodd-Frank rollback bill

The RepublicanParty's platform approved July 18 echoes many of the sameprovisions in Rep. Jeb Hensarling's Financial CHOICE Act, including providing regulatoryrelief for community banks and passing legislation to ensure banks areadequately capitalized.

Hensarling's bill includes a provision that would giveregulatory relief to banks with a leverage capital ratio of at least 10%, amongother things. Republicans also reiterated their belief that no bank is too bigto fail and included a guideline in the platform to replace the orderlyliquidation resolution, or Title II, with a chapter of the bankruptcy code. Theparty also calls for a review of and laws that delegate "too muchauthority" to regulators and a reconsideration of all existingregulations. In addition, the platform supports legislation that would requireany regulation that imposes "significant costs" on the taxpayer topass both the House and Senate.

The platform also calls for the Consumer FinancialProtection Bureau to be under the congressional appropriation process. It alsocalls for an audit of the Federal Reserve, legislation that has alreadypassed the HouseOversight and Government Reform Committee.

The party also wants to end the government's use ofdisparate impact theory with regards to lending. The theory allows thegovernment to pursue discrimination lawsuits without proving intent. The U.S.Supreme Court ruledJune 25, 2015, that such claims are allowed.

In addition, the platform inserts Donald Trump's take oninternational trade, calling for a renegotiation of trade agreements that alignwith U.S. interests.