Senate Panel Advances Bipartisan Plan for Regulatory Relief

The Senate Banking Committee approved legislation on Tuesday, December 5th that would ease Dodd-Frank Act rules for community lenders and regional banks by a 16-7 vote, according to Bloomberg. Senate Banking Committee Chairman Mike Crapo sponsored the bill, S. 2155, and the co-sponsors included nine Democrats, nine Republicans, and one independent. The Chairman needed eight Democrats in order to make the legislation filibuster-proof. The path is now cleared for the bill to move to a full Senate vote.

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