By Molly K. Hooper - 04/01/14 06:00 AM EDT
A key House Republican is "hopeful" that President Obama will work with Congress to reform parts of the Dodd-Frank law.
Rep. Scott GarrettScott GarrettOvernight Finance: Congress poised to avoid shutdown | Yellen defends Fed from Trump | Why Obama needs PhRMA on trade Yellen defends Fed from Trump attacks The Trail 2016: Candidate tug-of-war MORE (R-N.J.), chairman of the Financial Services subcommittee on Capital Markets and Government Sponsored Enterprises, told The Hill that unlike ObamaCare, the president doesn't have the "affinity" toward Dodd-Frank and is more willing to work on reforming aspects of it.
Lawmakers on both sides of the aisle have recently supported reforms to the law that was enacted to prevent against future banking crises in the aftermath of the 2008 financial meltdown.
The House Financial Services Committee has passed a number of bills that would reform aspects of Dodd-Frank including the derivative rules and swaps provisions, among others.