Economics
Sweeping Overhaul of Bank Rules Clears U.S. House
- Bill would ease regulatory burdens on small, regional lenders
- Compromise measure doesn’t go as far as some Republicans want
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The U.S. House has approved a sweeping overhaul of bank regulations, sending to President Donald Trump a bill that will give him a chance to make good on his vow to "do a big number" on the Dodd-Frank Act.
Lawmakers voted 258-to-159 Tuesday to advance a measure that is the product of years of financial-industry lobbying to soften post-crisis rules and sensitive negotiations on Capitol Hill to attract bipartisan support needed to get it through the narrowly-divided Senate.