House lawmakers started the new year off divided on Wednesday, with Democrats ultimately defeating a package of financial services measures that included relief from a key Dodd-Frank Act rule.

The focus of the 11-bill package was on a two-year delay for banks to sell off millions of dollars' worth of certain collateralized loan obligations under the Volcker Rule. The measure would push the compliance deadline to July 2019, and follows an earlier two-year delay on legacy CLOs granted by regulators last spring through July 2017. 

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