Powered by

Congress Approves First Big Dodd-Frank Rollback

May 22, 2018 - The New York Times

WASHINGTON — A decade after the global financial crisis tipped the United States into a recession, Congress agreed on Tuesday to free thousands of small and medium-sized banks from strict rules enacted as part of the 2010 Dodd-Frank law to prevent another meltdown.

In a rare demonstration of bipartisanship, the House voted 258-159 to approve a regulatory rollback that passed the Senate earlier this year, handing a significant victory to President Trump, who has promised to “do a big nu...