The House Financial Services Committee voted along party lines Wednesday in favor of GOP proposals to save $35 billion by dismantling several provisions of the Dodd-Frank Act. The four measures include eliminating regulators' authority to wind down failing financial institutions, a move that Treasury Secretary Timothy Geithner warned could undermine regulators' ability to prevent future crises. Other measures approved would slash the Consumer Financial Protection Bureau's budget and eliminate the Office of Financial Research.

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