Senate passes banking regulatory relief bill, but House prospects unclear

By Joseph Lawler

Published March 14, 2018 9:19pm ET

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Senate passes banking regulatory relief bill, but House prospects unclear — The Capitol Building as seen in Washington, Thursday, Dec. 8, 2016. A day ahead of a government shutdown deadline, Congress scrambled on Thursday, Dec. 8, 2016, to wrap-up unfinished business, voting decisively to send President Barack Obama a defense policy bill but facing obstacles on a stopgap spending measure. | (AP)

The Senate on Wednesday passed a significant overhaul of banking regulations, but the bipartisan legislative package faces an uncertain reception in the House.

The upper chamber voted 67-31 to ease many banking rules that apply to community banks, and allows for some regional banks, such as Atlanta’s SunTrust and Cincinnati’s Fifth Third Bank, to no longer be categorized with Wall Street megabanks for some oversight purposes.

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