Dodd-Frank overhaul heading for likely passage in Congress

ArticleDebt crisis May 23, 2018 - 3:14:06 AM

The measure includes various provisions that affect consumers, including one that might make it easier to get a mortgage at their local bank or credit union.

Legislation that would ease banking regulations — and modify rules governing credit reports and some consumer loans — is headed for likely passage in Congress.

The bill cleared the Senate in March with some bipartisan support and is expected to be voted on by House lawmakers as early as Tuesday. The House Rules Committee met Monday to nail down the procedures for considering the legislation, clearing the way for a floor vote.

The measure rolls back some of the regulations imposed by the Dodd-Frank Act of 2010. That legislation came on the heels of the financial meltdown that rocked the U.S. economy a decade ago, when risky and unaffordable mortgages contributed to millions of homeowners losing their houses to foreclosure...

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