Banking Deregulation Bill Poised to Pass Senate

Politico writes that Republicans and a group of moderate Democrats are poised to pass a bill that would relax key Dodd-Frank era banking regulations. The bill would ease regulations for smaller and mid-sized banks with under $250 billion in assets, direct the Federal Reserve to tailor its rules for larger banks, and introduce relaxed capital and liquidity standards across the board. While the bill appears to have support sufficient to overcome a filibuster challenge, the article notes that some progressive Senators, like Elizabeth Warren (D-Ma.), are working to oppose passage of the bill.

However, noting that some of the moderate Democrats supporting the bill are up for reelection this fall in states won by President Trump in 2016, the article points to the political benefits for some Senators in working on and passing bipartisan legislation. “There will be a split in the caucus,” said Sen. Mark Warner (D-Va.), who was among the leading Democrats negotiating the legislation. "But I believe we’ll get between 65 and 70 votes.”

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