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Senate Passes Big Rollback of Dodd-Frank

Thursday, March 15, 2018   (0 Comments)
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Senate Passes Big Rollback of Dodd-Frank

Late Wednesday night, the Senate passed the Economic Growth, Regulatory Relief, and Consumer Protection Act on a 67-to-31 vote. No Republican Senators voted against the legislation, and 16 Democrats and one Independent voted for it.

The legislation would roll back several portions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was passed in 2010 in the wake of the financial meltdown of 2008. Most notably, the new legislation would raise the threshold at which banks are subject to particularly strict oversight and regulation.

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