Editorial Board
Congress Has Another Faulty Bank-Reform Bill
Lighter regulation plus too little capital equals bad news.
That was then.
Photographer: Chip Somodevilla/Bloomberg via Getty ImagesCongress is about to revisit the financial protections put in place after the 2008 crisis. Some would call what’s proposed a gutting of the Dodd-Frank reforms. It’s hardly that, but it’s troubling nonetheless.
President Donald Trump entered office promising to ease the regulatory burden on the financial industry. After various iterations, congressional Republicans have settled on a bill that they think will deliver. Known as the Economic Growth, Regulatory Relief, and Consumer Protection Act, it’s expected to come to a vote in the Senate soon.