US Senate approves bill in first step to rewriting Dodd-Frank - Reuters
|The US Senate voted Wednesday to approve a bill that eases some of the regulations under the Dodd-Frank reform that was enacted following the 2008 financial crisis, as reported by Reuters.
Key highlights:
- The US Senate voted 67-31 in approval of easing banking rules.
- Congress is a step closer to completing the first rewrite of the Dodd-Frank reform law.
- The draft now goes to the US House of Representatives.
- The House Republicans say they want to add further provisions to ease financial regulations.
- The bill eases tightened restrictions placed on small banks and community-level lenders, among other provisions that benefit all but the largest of the US banks.
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