The Senate is poised to pass a major rewrite of the Dodd-Frank law, after President Trump already took action to limit it. It could offer critical relief to mid-sized lenders, but also remove some consumer protections.
Erica Werner, Washington Post congressional reporter. (@ericawerner)
Jared Bernstein, senior fellow at the Center on Budget and Policy Priorities. (@econjared)
U.S. Rep. Jeb Hensarling, Republican congressman from Texas and a key author of “the Financial CHOICE Act,” the House’s bill to replace the Dodd-Frank Act. (@RepHensarling)
Tom Easton, American finance editor at The Economist.
From The Reading List:
Washington Post: Senate Advances Plan To Weaken Dodd-Frank Banking Rules On Bipartisan Vote -- "A plan to scale back post-financial-crisis banking rules cleared a key Senate hurdle Tuesday, with more than a third of the Senate Democratic caucus joining united Republicans to move the measure toward passage."
The Economist: An Attempt To Revise The Dodd-Frank Act Reaches A Milestone — "After 25 hearings, thousands of pages of comments and many unworkable bipartisan working groups, America’s Senate has finally produced a possible consensus bill to tweak the Dodd-Frank Act, the vast swathe of banking regulation passed soon after the 2008-09 financial crisis."
The Senate is poised to pass a major overhaul of the Dodd-Frank financial regulation law. It’s designed to eliminate some regulations on banks below a certain size, and change some lending requirements for community banks. The bill has bipartisan support – several moderate senate Democrats are throwing their weight behind the overhaul. But their more liberal colleagues say the bill is dangerous, that it would deregulate 25 of the 38 largest banks in the country, and could open the door to another financial crisis.
This hour, On Point: Deep analysis on changes to Dodd-Frank.
This program aired on March 8, 2018.