US House passes deregulation bill with bipartisan support
Once President Trump signs it, measure will relieve some regional banks from stricter requirements
The US House of Representatives passed a financial deregulatory bill on May 22 that would reduce financial oversight on two dozen mid-sized regional banks.
This represents the most significant legislative step to date taken by the Republican majority in Congress to scale back the 2010 Dodd-Frank Act. The Trump administration, some members of Congress, and the Fed’s vice-chair of banking supervision, Randal Quarles, have advocated for relaxing some capital requirements in order to increase
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