Five Ways the Senate Plans to Roll Back Regulations on Wall Street
Image by Mark Moz
The Washington Post is reporting that the Senate is slated to pass far-reaching legislation this week to roll back key components of financial regulations put in place after the global financial crisis.
If made into law, the legislation would weaken the Dodd-Frank Act and would free dozens of financial institutions from the strictest rules put in place by regulators after the crisis, explains reporter Renae Merle.
The bill would raise the “too big to fail” standard for troubled banks, soften capital requirement for banks, offer small banks relief from the “Volcker rule” that bars banks from making risky wagers with their own money, and offers some banks relief from some restrictions on mortgage lending. The proposed legislation, however, would not weaken the Consumer Financial Protection Bureau.
