Last week, House Speaker Paul Ryan said the chamber would certainly take up the Senate edition of the bill along with separate legislation passed by Hensarling’s panel in which would certainly make additional modifications to bank rules. The speaker added in which he expected a vote on the banking bill “soon.”
The legislation would certainly raise the level at which banks are considered “systemically important” as well as exempts smaller banks via different rules aiming to curb risky behavior.
Some Democrats, while largely supporting the Dodd-Frank reforms, have argued smaller banks as well as lenders in rural areas should face fewer restrictions than the biggest institutions. Seventeen Senate Democrats voted for the bill.
The support came over the objections of financial industry critics such as Sen. Elizabeth Warren, D-Mass., as well as Sen. Bernie Sanders, I-Vt. Critics objected in part to a provision raising the threshold for an institution to be considered “too big to fail” to $250 billion in assets via $50 billion in assets. They argued This kind of opens taxpayers up to more potential liability should a midsized bank fail.
If the House passes the bill, President Donald Trump will be supposed to sign This kind of.
A source added in which the House expects to take up additional legislation, backed by Hensarling, related to capital formation as well as better access to capital for entrepreneurs as well as smaller businesses.
The House passed those bills as part of the separate Financial Choice Act, which Hensarling pushed for last year, as well as as stand-alone bills. The capital measures received bipartisan support.