Deregulatory bill gathers bipartisan support in US Senate

us-congress

A bill lowering regulatory standards for some financial institutions in the US gathered bipartisan support in the Senate on March 6, but drew sharp criticism from some Democrat senators, who claimed it would imperil financial stability.

The Economic Growth, Regulatory Relief, and Consumer Protection Act would raise the threshold beyond which banks are submitted to stricter oversight. This supervision includes stress tests that measure banks’ capacity to withstand various crisis scenarios.

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