US Senate approves bill in first step to rewriting Dodd-Frank - Reuters

Joshua Gibson FXStreet

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.

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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