House to Vote on Regulatory Relief

The US House of Representatives is set to reach across the aisle to vote this week on legislation meant to ease regulatory rules imposed on banks and financial firms by Dodd-Frank. These regulations were originally designed as a reaction to the financial crisis that rocked the world, and especially the US, ten years ago.

Regulatory bill S. 2155 has already cleared the senate. Republican legislators have been proponents of the bill, and it is likely to pass with a bipartisan majority as an example of a common achievement for both parties. Banks are also large proponents of the bill and want to speed it through approval as fears that further negotiations by House democrats to include more bipartisan itemsĀ could stall it indefinitely.

A second bill, however, has since been proposed to add these additional items, though no work has yet begun to engage both major parties on its contents.

The regulatory bill being voted on this week was introduced by Rep. Mike Crapo (R-ID) and can be found on Congress’ website, here.

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