US Senate approves bill easing bank rules in step to rewrite reforms

The U.S. Senate voted 67 to 31 to ease bank rules, bringing Congress a step closer to passing the first rewrite of the Dodd-Frank reform law enacted after the 2007-2009 global financial crisis.

The draft legislation now heads to the U.S. House of Representatives where majority Republicans say they want to add more provisions to ease financial regulations.

The bill would ease tight restrictions on small banks and community lenders and includes a number of other provisions beneficial to all but the largest U.S. banks.

Re-disseminated by The Asian Banker from Reuters

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