DODD-FRANK/TRUMP AS PRESIDENT: “President Donald Trump pledged on the campaign trail to ‘do a big number’ on the Dodd-Frank Act. And now a Republican bill that offers the most sweeping changes to rules crafted following the 2008 financial crisis is now headed to his desk for his signature. In a final step on Tuesday [5-22-18], the House voted 258-159 in favor of a bipartisan Senate-crafted bill aimed at loosening regulations for thousands of community banks and regional lenders, including State Street, BB&T and SunTrust. Its passage marks the end of years of lobbying by the financial industry to soften post-crisis rules and tense negotiations in Congress to win bipartisan support for the bill. Democrats who supported the bill crafted by Senate Banking Committee Chairman Mike Crapo, an Idaho Republican, have drawn backlash from more progressive members of the party, who argue that a regulatory rollback would make the financial system more vulnerable to another crisis.”
-Donna Borak, “House sends bill loosening banking regulations to Trump’s desk,” CNN Politics, CNN.com, May 22, 2018 5:47 pm