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The House of Representatives last week passed sweeping legislation that would repeal or modify consumer protection provisions of the Obama-era Dodd-Frank Act, including an overhaul of the Consumer Financial Protection Bureau’s structure and authority as well as changes to the rulemaking process followed by the CFPB and federal banking agencies. The House approved H.R. 10, the Financial Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs (CHOICE) Act, on June 8 by a vote of 233-186, along party lines. The bill was sent to the Senate, where Republicans enjoy a narrow majority and would have to win over some Democrats to get the bill through. Under the Republican bill, the CFPB would be renamed...