Republicans Are On The Verge Of Liberalizing Banks With Democratic Support - America News Hour

Republicans Are On The Verge Of Liberalizing Banks With Democratic Support

Liberalizing Banks With Democratic Support

Over the coming week, the Senate is anticipated to pass the Economic Growth, Regulatory Relief, and as well as Consumer Protection Act, a bill that rolls back some of Dodd Frank’s financial regulations and broadens existing loopholes. Republicans drafted the bill. But it has 12 democratic co-sponsors, giving it a filibuster proof majority.

The regulation relieves banks with less than USD 10 billion in assets from the Volcker Rule and different mortgage necessities; permits banks with between USD 50 Billion and USD 250 Billion in assets to function with less supervisory scrutiny, and leads the Federal Reserve to modify regulations to specific balance sheets of bigger banks, instead of imposing rules equally all over the board.

About the Author

Barbara D. Issa
Barbara
Barbara is a freelance journalist and an expert in Finance, agricultural investments, economics, financial markets, new media, international relations & politics.

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