Senate Backs Bill Relaxing Post-Crisis Rules for Smaller Banks
- Crapo legislation amends Dodd-Frank, gives Wall Street little
- Focus shifts to House, where Hensarling seeks bigger changes
KBW's Gardner Says Senate Bill Is Not a Rollback of Dodd-Frank
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The U.S. Senate passed legislation that would ease constraints on regional and community banks while mostly snubbing Wall Street, giving the finance industry its best chance in years of rolling back rules adopted in the wake of the 2008 crisis.
The bipartisan bill crafted by Senate Banking Committee Chairman Mike Crapo frees smaller lenders from some of the toughest requirements of the Dodd-Frank Act, striking them from the ranks of banks deemed too-big-to-fail.