BANKING/DEMS/GOP: “Sen. Elizabeth Warren (D-Mass.) on Tuesday [3-6-18] blasted Republicans and fellow Democrats for backing a sweeping rollback of banking regulations that the Senate will likely pass as soon as this week.
Lawmakers will vote to begin debate on the legislation on the Senate floor later this morning, a move that will expose a long-simmering rift over banking industry oversight that has divided Democrats since the financial crisis…
She said Democrats and Republicans were backing the legislation because of years of sustained bank lobbying in the wake of the 2010 Dodd-Frank Act, the landmark law that strengthened banking oversight in the wake of the Wall Street meltdown…
The bill has several elements aimed at scaling back lending rules. They include: relaxed mortgage regulations for small banks; broad exemptions from oversight for regional banks with up to $250 billion in assets; a mandate that the Federal Reserve tailor its rules for big banks, and easier capital and liquidity requirements for a number of the nation’s largest lenders.
Supporters of the legislation, including red-state Democrats facing tough reelection campaigns this year, argue that the legislation would help make it easier for small and mid-size banks to provide credit.”
-Zachary Warmbrodt, “Warren slams senators for backing bank deregulation bill,” Politico, Mar. 6, 2018 10:56am