WASHINGTON (AP) — Senate Republican leaders have added some further limits on regulators as well as consumer benefits to legislation rolling back restraints on banks, as substantial support from Democrats helps edge the bill closer to passage.
The legislation before the Senate would alter key elements of the Dodd-Frank law enacted to prevent a repeat of the financial crisis 10 years ago. The Senate debated the measure on Thursday, with a final vote expected early next week.
At the bill's core is a five-fold increase, to $250 billion, in the level of assets at which banks are deemed so big and intertwined with the financial system that their failure could bring severe disruption.
The new provisions added late Wednesday include curbs on regulators' ability to restrict banks' commercial real estate lending.