>> The bill as amended is passed.>> It's been eight years since Congress passed the sweeping Wall Street bank reform known as Dodd Frank following the financial crisis. But with a different President in the White House and Republicans in charge of Congress, the financial services industry is pushing for the kind of looser regulation it's been dreaming of.
Reuters senior financial regulation correspondent, Michelle Price.>> They're really pushing for a much more aggressive set of sweeping rule changes which they hope will really be sustainable not just for the next two years but into administrations in the future. They're looking really to kind of make changes and sow the seeds for a kinda completely different dynamic for the next generation.
>> Some of the rules on their hit list go all the way back to the Civil War. Banks complain that too many rules are arcane, business stifling, and money draining, and see the Trump administration as the best chance to scrap them. The biggest bullseye is on a rule that requires reporting of any transaction above $10,000 in cash.
And another dates back to a different period when banks were behaving badly.>> The Community Reinvestment Act is really about making sure that there's fair lending to poor communities. It was created in the 1970s as a response to so-called redlining where low income communities are highly correlated with ethnic minority communities.
>> Regulators are expected to roll out proposals to get rid of that one and the others in the coming weeks.>> Congress is getting ready to pass the biggest financial deregulation bill in decades.>> Consumer advocates and progressive Democrats are gearing up for a fight, but it's going to be costly.
Anti-regulation lobbyists spent $67 million around Capitol Hill last year alone, and aren't likely to get cheap now, fearing a possible mid-term shake up could weaken this bank friendly Congress.