House votes to ease bank rules, sending bill to Trump's desk

ArticleBanking crisisMay 23, 2018 - 3:22:07 AM

The House voted to pass a bill to roll back regulations on all but the largest banks.

The House voted Tuesday to pass the biggest rollback of financial regulations since the global financial crisis. The margin was 258-159, with 33 Democrats supporting the legislation.

The bill will now go to President Donald Trump's desk. He is expected to sign it into law. The Senate already passed the legislation with bipartisan support.

The bill makes good on Republican promises to cut red tape they say hurts businesses, but does not go nearly as far as some GOP lawmakers had hoped. It also appeases some Democrats who argue financial rules passed following the financial meltdown unnecessarily hamstrung small and mid-sized lenders...


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