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March 6, 2018

Senate poised to ease Dodd-Frank bank rules

  • The legislation would increase the threshold at which banks are considered too big to fail.
    Associated Press

    WASHINGTON — Ten years after a financial crisis rocked the nation's economy, the Senate is poised to pass legislation that would roll back some of the safeguards Congress put into place to prevent a relapse.

    The move to alter some key aspects of the Dodd-Frank law has overwhelming Republican support and enough Democratic backing that it's expected to gain the 60 votes necessary to clear the Senate. Several Democratic lawmakers facing tough re-election races this year have broken ranks with Minority Leader Chuck Schumer, D-N.Y. and Sen. Elizabeth Warren, D-Mass.

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