Mass. Senator Elizabeth Warren (D) and (Sen. Sanders) were dead-set against the bill and made their views known….
But the bill passed with 12 Democrats joining the Republicans in the vote….
The will roll back some Dodd-Frank financial rules and regulation put into effect in 2010 after the 2009 financial meltdown that got dumped in President Obama’s lap….
The Senate voted Wednesday to pass a bill that would be the biggest bank deregulation since 1999 and would roll back parts of the 2010 Dodd-Frank financial overhaul.
More than a dozen Democrats joined the Republicans to pass the bill, sending it to the House, where conservative Republicans may seek to attach further provisions to roll back the 2010 law. Republicans will be trying to straddle the line between the extensive reversal of bank regulation that they seek and keeping on board the Senate Democrats who will be needed to clear the measure.
The 67-31 Senate vote on passage of the bill came after the chamber earlier adopted a substitute amendment and then agreed to waive applicable budget resolutions after Vermont independent Sen. Bernie Sanderssaid the bill would raise the deficit.
The measure, sponsored by Senate Banking Chairman Michael D. Crapo would ease regulations on all but the biggest banks. The Idaho Republican was able to keep the support of about 15 Democrats and Maine independent Sen. Angus King during the bill’s two-week sojourn on the Senate floor. King and a dozen Democrats are co-sponsors….
Hmmmmm?
Seems a House GOper isn’t happy with the bill that washes out some banking regs and rules for small/middle sized banks and want to gum up the effort….
He wants the easing of the rules to extend to other financial outfits….
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Texas Republican Jeb Hensarling is standing in the way of President Donald Trump’s next big legislative victory.
The outgoing chairman of the House Financial Services Committee, backed by House leadership, is refusing to rubber-stamp the landmark bank deregulation bill the Senate passed Wednesday night in an overwhelming, bipartisan vote after years of work.
The White House wants a bill on Trump’s desk as soon as possible. But Hensarling warned Thursday that the House would sit on the legislation until senators agree to negotiate how to expand the package to include proposals that would benefit more sectors of the financial industry…
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