Capitol Report: Bankers, reformers in opposition on regulatory rollback

The Senate is expected to approve this week the most significant reversal of regulatory requirements for financial services firms since the financial crisis, including a significant retrenchment of the heightened scrutiny for banks with less than $250 billion in assets that was implemented by the Dodd-Frank Act of 2010.

The bill, S.2155, introduced by Republican Sen. Mike Crapo of Idaho, chairman of the Senate Banking Committee, has 25 co-sponsors, including 12 Democrats. It raises the threshold to $250 billion in assets from the current $50 billion for when some of the largest banks face stricter oversight, including the designation as systemically important financial institutions.

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