Senate Passes Bill To Ease Banking Regulations

By a vote of 67-31, the Senate passed the "Economic Growth, Regulatory Relief, and Consumer Protection Act." The bill would make changes to banking regulations implemented following the financial crisis of 2008.

Commentary / Scott Cammarn

The bill makes modest changes to existing financial services provisions, some of which were first adopted in the Dodd-Frank Act. While many of the bill's provisions are directed at community financial institutions with assets of less than $10 billion (including a Volcker Rule repeal with respect to such community banks provided they have limited trading assets and liabilities), a few provisions impacted a broader range of financial institutions: