>> The U.S. Senate, on Wednesday, voted to ease bank rules, bringing Congress a step closer to passing the first rewrite of the Dodd Frank reform law, enacted after the global financial crisis a decade ago.>> The yeas are 67.>> In a 67 to 31 vote, the draft resolution now heads to the House of Representatives, where Republicans in the majority say they want to add more previsions to ease financial regulations.
But any changes made in the House would again have to pass the Senate, and Republican additions could drive away Senate Democrats, whose support is needed for passage. The bill would ease tight restrictions on small banks and community lenders, and includes provisions beneficial to all but the largest US banks.
Republican critics say Dodd Frank went too far and curbed banks' ability to lend, while many Democrats say it provides critical protections for consumers and taxpayers. The White House said in a statement, that President Trump would sign the bill into law if approved by the House.