The latest version of a bill to give regulatory relief to small institutions includes language designed to ensure that large foreign bank holding companies do not also see their supervision eased.
More than 50 amendments had been filed by Wednesday afternoon to be considered as part of a Senate regulatory relief bill, but it was unclear which proposed changes if any have the approval of the legislation's key sponsors.
The Dodd-Frank Act consolidated massive authority under the Consumer Financial Protection Bureau, but acting Director Mick Mulvaney wants the bureau to take a back seat to states and other federal regulators.
The resignation of National Economic Council Director Gary Cohn costs banks a top ally in the Trump administration and will likely further slow agency appointments.
On the eve of a crucial Senate vote to roll back parts of the Dodd-Frank Act, the divide between progressive and moderate Democrats on regulatory relief has never been starker.
The fight over the Senate's regulatory reform bill illustrates how entrenched Democrats and Republicans remain over the crisis-era law, eight years after its passage.
There's been a legislative bottleneck since the the crisis-era law went into effect, but Congress has moved forward on a handful of significant changes.
A New Hampshire bank CEO argues that the reform bill awaiting a vote in the Senate will free up community banks to focus more on their customers and less on compliance.
Numerous regional banks stand to benefit from a provision that narrows the scope of institutions defined as "systemically important" under the Dodd-Frank Act.
The Senate legislation would weaken scrutiny of large financial institutions, undercutting Dodd-Frank’s mission to provide tailored oversight across the system.
