The House voted 233 to 186 yesterday for a sweeping rewrite of the rules governing Wall Street, an opening Republican bid to encourage economic growth by loosening regulation of the financial sector.

The GOP-led bill, approved on near-party lines, marks the first time Republicans have successfully passed broad legislation aimed at replacing the 2010 Dodd-Frank financial overhaul law, the Obama-era response to the financial crisis. It is unlikely to become law because it is not expected to earn sufficient support to advance in the Senate.