House bill would relax bank rules aimed at averting crash
WASHINGTON (AP) — The House neared approval Thursday of legislation easing bank curbs that Democrats imposed to prevent another financial crisis, as Republicans offered a symbolic preview of regulatory changes they plan to pursue after President-elect Donald Trump takes office.
The GOP bill targets the landmark Dodd-Frank law, which President Barack Obama and Democrats enacted to rein in Wall Street following the financial crisis of 2007 and 2008.
Rather, the Financial Stability Oversight Council — a group of top federal regulators — would be able to stick that label on banks on the basis of their size, how intertwined they are with the system, and other factors.