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Congress Rolls Back 2010 Dodd-Frank Banking Rules

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.

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.

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.

Read more here.

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