Houses passes bill softening rules regulating Wall Street

SHARE Houses passes bill softening rules regulating Wall Street

WASHINGTON — The House has passed a bill to soften the landmark law reining in banks and Wall Street, advancing a key Republican priority more than six years after the financial crisis struck and brought on the Great Recession.

The vote Wednesday was 271-154 on the legislation pushed by the newly bulked-up Republican majority in the House. Approval of the bill came swiftly in the second week of the new Congress, despite a veto threat from the Obama White House. The measure now goes to the Senate, where it will face strong opposition from liberal Democrats like Sen. Elizabeth Warren.

The bill alters sections of the 2010 Dodd-Frank financial overhaul. That law tightened government oversight of banks and financial markets with an eye toward preventing another crisis and taxpayer bailout of banks.

MARCY GORDON, AP Business Writer

The Latest
The couple rarely shows any physical affection, and lately the man has become verbally abusive during arguments.
The Far South Community Development Corp. is putting final touches on a housing proposal as it looks for other ways to improve the area.
Chicago Family Health Center is one of six finalists for the Pritzker Traubert Foundation $10 million Chicago Prize 2022.
The Hawks have conceded the first goal in eight consecutive games. And after falling 7-2 on Sunday, they’ve now lost seven games in a row. The trends are no coincidence.