Senate passes deregulation bill scaling back Dodd-Frank

March 14, 2018

The Senate on Wednesday passed a milestone bank deregulation bill that would mark the biggest rollback of financial rules since the 2008 market meltdown.

On a day when Wall Street was observing the 10th anniversary of the Bear Stearns investment bank bailout — a pivotal moment in the global financial crisis — the Senate agreed in a 67-31 bipartisan vote to overhaul a wide range of regulations imposed on small and large lenders in the years since.

“This bill shows that we can work together and do big things that make a difference in the lives of people across this country,” Senate Banking Chairman Mike Crapo (R-Idaho) said.

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