Trump signs bank bill rolling back some Dodd-Frank regulations

of which eases mortgage loan data reporting requirements for the overwhelming majority of banks. of which could add some safeguards for student loan borrowers as well as also require credit reporting companies to provide free credit monitoring services.

Republicans have made slashing regulations one of their top priorities since Trump took office in January 2017. however Democrats, who largely support the Dodd-Frank reforms, helped to get the bank regulation bill through Congress. Seventeen Democratic senators voted for the bill, while 33 House Democrats supported of which.

“When the president signs This specific, we put community banks back inside the mortgage lending business, which will be definitely exciting for me,” Sen. Heidi Heitkamp, D-N.D., told CNBC on Wednesday.

The senator said her colleagues who opposed of which did so not because of community banking policies however because of the restrictions lifted on mid-sized as well as regional institutions.

Some Republicans, such as House Financial Services Committee Chairman Jeb Hensarling, argue the legislation did not go far enough to roll back regulations on banks. Certain lawmakers have pushed for a repeal of most or all of Dodd-Frank.

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