A new proposal to significantly weaken the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 could be released this month.

Jeb Hensarling (R-Texas), chairman of the House Financial Services Committee, proposed the Financial Choice Act  last year, though it stalled in Congress.

In a memo to other lawmakers on Tuesday, Hensarling outlined planned changes to the legislation that include numerous provisions not in his initial proposal.

Source: Mortgage Daily