Economy

GOP’s diminished hopes for Dodd-Frank rewrite rest on Democratic help

By Joseph Lawler
Published March 6, 2018 5:01am ET
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GOP’s diminished hopes for Dodd-Frank rewrite rest on Democratic help
Regional bankers contend that they are not Wall Street banks, and shouldn't be regulated as such. They don't compare in size to banks like JPMorgan Chase, which has over $2 trillion in assets, and their activities are closer to those of community banks than they are to the complicated financial dealings of Goldman Sachs or Morgan Stanley. | honglouwawa

President Trump and his advisers boasted that they were going to repeal Dodd-Frank, the 2010 bank regulation law passed under former President Barack Obama. The big deregulation bill was going to be a centerpiece of Trump’s plan for boosting economic growth, to go along with tax reform and trade negotiations.

Trump and congressional Republicans got their big conservative tax overhaul. But they have lowered their ambitions for cutting financial regulations.

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Tag:

Congress Dodd-Frank Act Elizabeth Warren Federal Reserve Finance Goldman Sachs Jeb Hensarling Jon Tester Joseph Lawler JPMorgan Mark Begich Mark Warner Mike Crapo Regulations Senate Finance Committee Sherrod Brown Volcker Rule