US House to vote on Dodd-Frank changes in May - Reuters

Joshua Gibson FXStreet

According to reporting by Reuters, the US House of Representatives may be geared to vote as soon as May on a bill that will relax banking rules that were put in place after the 2007-2009 financial crisis.

Key quotes

"The Senate voted 67-32 last month in favor of a bipartisan bill that would ease oversight of small and mid-sized banks."

"House Republicans have stalled voting on the Senate bill on the grounds that additional provisions should be included to further lower the regulatory burden on banks and make it easier for small companies to raise capital."

"Many Democrats say Dodd-Frank provides critical protections for consumers and taxpayers. While the Senate bill passed with the support of 17 moderate Democrats, key members of the party, including Senator Mark Warner, have said they would withdraw support if any further changes were made."

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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