s dodd-frank replacement bill heads to the house floor, in particular on the consumer protection bureau. what would the g.o.p. bill do? guest: the republican argument is that the pendulum swung too far. the idea is to lessen the burden of the rules, and that will create economic growth. how do you prevent a crisis? well, the republican argument there is to eliminate some of the government authorities that they thought created bad sorts of investment that led to the crisis into increased market discipline. the centerpiece of the plan, the reason it's called the choice act is because it would give banks the option. if they hold more capital if they maintain a higher capital level, they get out of more regulatory rules. meaning you're substituting investor discipline, investor oversight, people with skin in the game for regulators. host: it would seem with the cfpb that's had some success and republicans aren't proposing gutting it completely, they just want to rein it in? guest: they would take a lot -- away a lot of its authority. they would transition it from being independent agency th

. >> the house went on to pass that dodd-frank replacement bill by a 233-168 vote with only north carolina republican walter jones crossing party lines to vote no. the house returns on monday but a legislative schedule won't be released until later this afternoon. the senate returns monday, they'll continue work on a bill that would expand sanctions for iranian ballistic missile development and iran's continued support for terrorism. at 5 thith p.m., senators take a vote on the nomination of capuano to be assistant secretary of defense. flole the senate live on c-span2 and the house live on c-span. in about half an hour, president trump meets with the romanian president for a news conference, ive at 2:45 eastern. >> sunday night on "afterwords," ann marie slaughter examines global networking in the digit age in her book "the chess board and the web: strategy of connection in a networked world." she's interviewed by dennis mcdonough, former white house chief of staff in the obama administration. >> what would strike me was, we knew there was a world of states, today if you think about north

replaced dodd frank. this week we are doing medical liability reform. two immigration bills. kate's law, sanctuary cities. >> bill: how could you grade the president? >> i think he is doing fine. i think the key is don't get distracted. i'm not saying he is distracted. what we are doing in congress ♪ getting distracted by different i. we are focused on doing our jobs. most of the media want to focus on investigations. those are important and getting done. they don't incapacitate us. brian: do you have a letter grade for president trump. >> i don't do letter grades u what matters at the end of the day did we do our jobs or not? brian: right. >> we are making good progress on these things. we campaigned on doing serious things with this president. it's going to take us time to do those things. brian: right. >> we get this done this will

there are house today voted to move forward with a bill to replace the dodd-frank financial regulations. the republican proposal would allow small banks and banks with sufficient cash reserves to opt out of some financial regulations. here is some of today's debate. this is 45 minutes. . withoutker pro tempore: objection. mr. buck: mr. speaker, i rise today in support of the rule and the underlying legislation. this rule provides a structured process for debate and makes in order six amendments to the bill. mr. speaker, we're here today to return hope and opportunity to main street america through the financial choice act. this legislation touches at the very heart of our economy, ensuring that our financial system facilitates job creation, economic growth, and fairness. nearly 10 years ago the american economy cratered. the great recession of the late 2000s revealed that our financial system was fragile and many americans got the short end of the stick. in 2010, the democrats passed h.r. 4173, the dodd-frank wall consumer rm and protection act. they promised the bill would lift the ame

replace dodd/frank. the vote was largely along party lines. republicans said that the bill was making it harder for community banks to operate. the bill's fate in the senate is uncertain. >>> tech companies are invading new territory and it has the nation's big banks on the lookout. that's ahead. >>> about 3 million potential first time homebuyers have been shut out of the market over the past decade. according to a new study, tight lending and a shortage of affordable homes in many markets has reduced the pool of potential buyers. first time homebuyers are considered a key component of housing demand. the results of the study suggest the market's recovery for the past few years could have been even stronger. >>> nordstrom considers going private. and that's where we begin tonight's market focus. the retailer said that members of the nordstrom family had created a group now to explore the possibility of taking that company private. nordstrom also said no proposal has been made yet. but investors seem to like the possibility and sent shares up 10% to close at $44.63. >>> ali

last week we also saw the passage of the choice act, to repeal and replace substantive portions of the dodd frank regulation billcare bill the senate will bring that up for a vote. if that's failure, i'm sick of failing that way. >> thanks for joining me. >> appreciate it. >> coming up, max bacchus will tell us when senator sessions testifies on tuesday and next hour, political turmoil in london, what prime minister theresa may is saying to save her job after last week's elections coming up. are allergies holding you back? break through your allergies. try new flonase sensimist allergy relief instead of allergy pills. it's more complete allergy relief in a gentle mist experience you'll barely feel. using unique mistpro technology, new flonase sensimist delivers a gentle mist to help block six key inflammatory substances that cause your symptoms. most allergy pills only block one. and six is greater than one. new flonase sensimist changes everything. [radi♪ alarm] julie is living with metastatic breast cancer, which is breast cancer that has spread to other parts of her body. she's also taking prescription ibranc

dodd—frank act after the banking collapse of 2008. but the us house of representatives will vote later on a new bill to replace it. g about undoing are the rules that keep large inch ocea ns are the rules that keep large inch oceans from getting so indebted that the government is faced with a choice between paying taxpayer's money to bailout their debts or letting them go under and causing a crisis. but do you agree with some of the proposals made by the choice act? you yourself said there were some mistakes in the dodd—frank law you would like to change. some mistakes in the dodd—frank law you would like to changelj some mistakes in the dodd—frank law you would like to change. i do believe that the $50 billion level we set to be in the super jurisdiction was too low. that was a mistake we made of the time. there isa mistake we made of the time. there is a bipartisan coalition ready to raise that. i think the smaller banks and the 10 billion should get some explicit relief. there were rules we didn't think would apply to them. in fact they are concerned about them, they spent about of money showing they are affecte

the house today is finishing up work on a bill that would replace the 2010 dodd-frank law. a final vote is expected this afternoon. note the house is not expected to be in session tomorrow, friday. live house coverage on c-span. the speaker: the house will be in order. the prayer will be offered by our chaplain, father conroy. chaplain conroy: let us pray. god of grace and goodness, thank you for giving us another day. we ask your blessing

the house today is finishing up work on a bill that would replace the 2010 dodd-frank law. a final vote is expected this afternoon. note the house is not expected to be in session tomorrow, friday. live house coverage on c-span. the speaker: the house will be in order. the prayer will be offered by our chaplain, father conroy. chaplain conroy: let us pray. god of grace and goodness, thank you for giving us another day. we ask your blessing of strength and perseverance that each member might best serve their constituents and our entire nation. may it be their purpose to see through the hopes of so many americans so as to authenticate the grandure and glory of the principles of our democratic republic with the work they do. grant that the men and women of the people's house find the courage and wisdom to fork together to forge solutions to the many needs of our nation and ease the angst yits of so many. may all that is done this day be for your greater honor and glory. amen. the speaker: the chair has examined the journal of the last day's proceedings and announces to the hou

the house getting ready to vote on this thursday on a bill that would replace dodd-frank. ask him about that plus talk tax reform. stay tuned you're watching "squawk box" on cnbc. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. it's been over 100 years since the first stock index was created, as a benchmark for average. yet a lot of people still build portfolios with strategies that just track the benchmarks. but investing isn't about achieving average. it's about achieving goals. and invesco believes doing that today requires the art and expertise of high-conviction investing. translation? why invest in average? spl >> welcome back to "squawk box" everyone. the futures this morning, they have been mixed throughout the session

republicans have been eyeing replacement for dodd-frank, and this is at the least, a first draft, has the votes to pass, now off to the senate, and the senate comes up with version of a billen come up with a new bell. remains to be seen whether that is a process that will actually result in something that both sides agree on, but for now, significant development, bill and sue, for a long time coming for republicans on capitol hill. >> yes. presumably, jeff is out of the fetal position now, as a result. >> yes. >> thank you. >> we think so. >> all right. thank you. >>> well, ochf course, watching that story and the story today that former fbi director comey testified to congress about why he documented his conversations with president trump. >> i was honestly concerned he might lie about the nature of the meeting, and so i thought it really important to adopt it. that combination of things i never experienced before, by i was led to believe to write it down in a detailed way. >> just moments ago at the white house, president trump was asked about mr. comey's testimony. >> mr. president, any reaction to comey's testimony? any reaction at all? do you think he told the truth

replacement of dodd frank that is devastating to the banks and the credit costs. i can assure everyone congress is busy working as we should through the committee and mark ups and will bills and legislation. we are not letting the tweets distract us. president trump is not going to change. many of us enjoy it. i know his supporters do. you might as well enjoy it. >> that's fine if his supporters do, but 2/3 of americans said he shouldn't be tweeting as much and many think not at all. he himself said he didn't. for instance, look at today. he seemed to confirm that the united states is okay with all of the gulf and the shab and egypt and various other gulf state countries in the persian gulf region. essentially to cut all ties with qatar. a country where there is a bunch of american men and women service members right now. that seemed to be an irresponsible use of twitter. was it not? >> again, i'm not the president. i don't even tweet myself. i don't disagree that there will be and have been and i'm sure in the future be issues and i guess it's fair to say qatar is one. so in that situation, there could be consequences, but at the end of the day, by and large certainly hi

bill, which has passed the house. it's got to go to the senate. it will be a massive challenge. why? it wants to do two things. replace dodd/frank.mer financial protection bureau. why is all of this -- >> designed by elizabeth warren, public enemy number one to a lot of senate republicans. now she sits with them. rather than letting her become the head of the financial consumer bureau, they didn't. she ran for senate and now sits with them. >> this is classic politics. the dodd/frank act was put into place after the financial crisis, when angrier. this was around lending practices and deposits. the president said people aren't able to borrow money. banks are being strangled. that's not really the case. we're going to interrupt this conversation. as soon as we cover what i love -- >> now the president is coming out at the department of transportation. let's listen in. ♪ >> thank you, secretary. thank you, everybody. this is very nice, by the way. beautiful. i want to really thank you. you have been so amazing as the leader of this department. and the progress is being made so quickly. leaders and officials gathered here from acros

in for work this afternoon on a bill dealing with border patrol job applicants and also a measure that would begin to repeal and replace a large bit of the 2010 dodd-frank financial regulations law that was passed back in 2010. the house will vote on the rule for that later this afternoon. live coverage of the house now here on c-span. [captions copyright national cable satellite corp. 2017] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] the speaker: the house will be in order. the prayer will be offered by our chaplain, father conroy. chaplain conroy: let us pray. we give you thanks o god for giving us another day. as we begin the 84th year since the heroic efforts of our troops and our allies on d-day, help us to be mindful of the freedoms we enjoy and be vigilant in protecting. blues our allies throughout the world and all those who stand with us in confronting the dangers and evils of our time. in all things, may the united states continue to be a beacon of light and hope. bless the members of this people's house. give them the wisdom and patience to do the wor

dodd frank replacement bill heads to the floor. what would the gop bill do? >> there are so many roles now that they are restricting and cutting into lending which means less economic growth. burdena is to lessen the to get things moving again. how do you prevent a crisis? the republican argument is to eliminate some authorities that they thought created bad -- and to increase market discipline. the centerpiece of the plan is because it would give banks the option. if they maintain a higher capital level, they get out of meaning,latory rules, investor oversight. seem that that has had some success. republicans are proposing cutting it completely. >> they would take away a lot of its authority. they would transition it from agency anddependent regulate new markets to one that would just enforce consumer protection laws on the books. the powers would be cut back quite a bit. democrats point to the number. it is something along the lines of $12 billion that the bureau has returned to customers. republicans think that for each of those products that have been fou

here's the headline in the washington examiner gop dodd frank replacement bill heads to the house floor in particular on the consumer financial protection bureau created under dodd frank what would the gop bill due? >> it would cut back a lot of the rules. the argument is that the pendulum swung too far after the crisis and that there are so many rules now they are cutting into lending and that means less economic growth so the idea is to lessen the burden to get things funding again and that will create economic growth and how you prevent the crisis, the argument is to eliminate what they thought created about the sources of investment that led to the crisis and increased market discipline so the centerpiece of the plan and the senate is called threason it ise act this would give the option if they hold more e capital and maintain a higher capital level they could add more regulatory rules meaning substituting investor oversight, people with skin in the game for regulators. >> republicans are not proposing gutting of completely they just want to rein it in. they would take away a lot o

what did the congressional budget office find in their score, their cost ziment on this dodd-frank replacement bill? they found it would save money over time. but the logic behind that number is complicated and it suggests straightforward savings, but cutting money year after year. the reason it would save that money is because it would lower chances that the government had to pay to bail out a bank. the main government mechanism e -- it created to make sure and keep a e over bank from failing. the way it works, they make a big investment up front, potentially hundreds of billions of dollars to carry out that bailout. and that is -- that payment is made during the budget window, during the year, the years the c.b.o. keeps track of. it would be repaid later on but the years in which it was being repaid would fall outside of the years that the c.b.o. looks at. so you end up -- what you end up with is a big bailout. if you receive a big number of spending for the bailout, but if you take that power away, that bailout is not going to happen. you save money. it's a budget timing issue if that makes sens

there are house today voted to move forward with a bill to replace the dodd-frank financial regulations. the republican proposal would allow small banks and banks with sufficient cash reserves to opt out of some financial regulations. here is some of today's debate. this is 45 minutes. . withoutker pro tempore: objection. mr. buck: mr. speaker, i rise today in support of the rule and the underlying legislation. this rule provides a structured process for debate and makes in order six amendments to the bill. mr. speaker, we're here today to return hope and opportunity to main street america through the financial choice act. this legislation touches at the very heart of our economy, ensuring that our