Senate Inches Closer to Financial Reg Reform
January 9, 2018
In October, Senate leaders made a strategic decision: they would not try to use the budget reconciliation process to repeal parts of Dodd-Frank, lest it sink tax reform. Now that tax reform is over, however, financial regulatory reform is back on the table.
The Senate Banking Committee, led by Chairman Mike Crapo (R-Idaho), has put together a reform bill with bipartisan support. Sponsors of the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) include one independent and 11 Democrats. Just before Christmas, the bill passed out of committee with affirmative votes from all 12 Republican members and four Democratic members.