Dodd-Frank Overhaul Starts Inching Forward on U.S. Senate Vote
- Preliminary vote clears hurdle to take bill up this week
- Democrats spar over whether legislation will hurt consumers
Sen. Mark Warner Expects Close to 70 Votes for Dodd-Frank Bill
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President Donald Trump has promised for more than a year to give banks relief from the Dodd-Frank Act. The moment has arrived.
The Senate voted 67-to-32 Tuesday to formally kick off the process of considering a bill that would mark the biggest congressional overhaul of the post-crisis banking law. In the coming days, the Senate is expected to debate and then pass the measure. It will then go to the House, where lawmakers would also have to approve it for it to reach Trump’s desk.