1,000 Cuts to Dodd-Frank: Senate Bill Part of Deregulation Wave
- Senate move to relieve small banks is part of expansive agenda
- Other measures are still moving, slowly, after Trump’s order
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Since President Donald Trump signed an executive order last year seeking ways to ease banking rules prompted by the global financial crisis, much has happened -- but not much has been completed.
On Wednesday, the U.S. Senate took the most concrete step so far, passing a bill that provides considerable regulatory relief to smaller lenders such as regional and community banks. Yet, it’s probably the least worrisome for defenders of the 2010 Dodd-Frank Act, the bedrock law enacted to prevent a future financial meltdown.