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Fed Still Reigns Supreme Over Banks, Despite Dodd-Frank Rewrite

  • Senate overhaul leaves many post-crisis regulations in place
  • Dodd-Frank revamp won’t free firms from Fed stress tests
Bloomberg business news

Roger Altman Says There Will Be Legislation to Trim Dodd-Frank

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The financial industry has been jubilant since the Senate passed a GOP rollback of banking rules last week. But even if the Dodd-Frank overhaul clears the House, U.S. lenders will remain inside a cage built by the Federal Reserve.

That’s because the bill, sponsored by Senate Banking Committee Chairman Mike Crapo, doesn’t touch the biggest constraint imposed on firms after the 2008 financial crisis: the Fed stress tests known as the Comprehensive Capital Analysis and Review.