SENATE BANKING COMMITTEE PROPOSES DODD FRANK ROLLBACK
SENATE BANKING COMMITTEE PROPOSES DODD FRANK ROLLBACK
GOP bank bill is a “$66 billion gift for U.S. banks” says Bloomberg:
“A U.S. Senate proposal to raise the level at which banks are deemed systemically important could help free up as much as $66 billion in capital at 11 lenders and allow for increased shareholder payouts. If lawmakers approve the most extensive rewrite of the 2010 Dodd-Frank Act, it would remove an obstacle to returning capital for firms such as American Express … and Capital One …”
http://www.bloomberg.com/news/articles/2015-05-21/shelby-s-66-billion-capital-boon-for-u-s-banks-is-gift-to-amex
“Moderate Dems to oppose” reports The Hill:
“Sources close to Sens. Mark Warner (D-Va.), Heidi Heitkamp (D-N.D.), Bob Menendez (D-N.J.) and Jon Tester (D-Mont.) each said that the four moderate members of the panel are planning to vote against [Sen. Richard] Shelby’s proposal [which] It would ease regulations on smaller banks and credit unions, while also seeking to make structural changes at the Federal Reserve to increase transparency.”
http://thehill.com/policy/finance/242710-moderat-dems-to-oppose-shelbys-finance-bill
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