WASHINGTON — More than six years after the financial crisis struck, the House is moving toward softening a post-crisis law that brought the strictest rules for banks and Wall Street since the 1930s.
Under a veto threat from the White House, the bill pushed by the newly bulked-up Republican majority came under discussion in the House on Tuesday for the second time in less than a week. This time it's likely to pass, with a vote expected Wednesday that would advance a Republican priority.
The bill would alter sections of the 2010 Dodd-Frank financial overhaul. Most notably, it would give U.S. banks two extra years — until 2019 — to ensure that their holdings of certain complex and risky securities don't put them out of compliance with a new banking rule.
In debate Tuesday night in a nearly empty House chamber, Democratic lawmakers denounced the move as a giveaway to the largest U.S. banks, which hold the bulk of the securities in question.
http://www.nytimes.com/aponline/2015/01/14/us/politics/ap-us-house-bank-regulations.html?ref=aponline
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