The U.S. House of Representatives Tuesday voted 258-159 to approve a bill (S. 2155) dismantling part of the post-recession Dodd-Frank Act that the U.S. Senate passed in March 67-31. The measure now goes to President Donald Trump, who is expected to sign it.
Mainly the bill relaxes Dodd-Frank regulations for all but the largest U.S. banks, but there is also a fairly arcane provision in the language that could help loosen commercial and residential real estate lending, according to industry organizations.
The main thrust of the bill raises the threshold at which banks face the tight oversight spelled out in Dodd-Frank to $250B in assets, from the current $50B. Small to midsize banks had long grumbled that such detailed oversight was onerous for institutions of their size.
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