Senate Passes Bill To Loosen Dodd-Frank Banking Rules And Restrictions For More Than Two Dozen Banks
The U.S. Senate approved a bill on March 23, 2018 loosening Dodd-Frank banking and finance industry restrictions that will “free more than two dozen banks from the toughest regulatory scrutiny put in place after the 2008 global financial crisis.”
“The legislation would increase the threshold at which banks are considered so big and plugged into the financial grid that if one were to fail it would cause major havoc. Those banks are subject to stricter capital and planning requirements. Lawmakers are intent on loosening the restraints on them in hope that it will boost lending and the economy.”
The House of Representatives has signaled it will not also approve this bill without several additions and changes.