Bipartisan legislation in the Senate to roll back parts of the Dodd-Frank financial reform law is running into trouble in the House, The Hill reported. The Senate Banking Committee last week advanced a bill that would scale back Dodd-Frank rules for small and mid-sized banks. Sponsored by Banking Committee Chairman Mike Crapo (R-Idaho), the legislation has enough support among Democrats to avoid a filibuster. That’s largely because it focuses on scaling back federal oversight of banks without touching other portions of Dodd-Frank that Democrats are determined to protect. But House Republicans pursuing a rival regulatory overhaul have given the bill a chilly reception, saying that it doesn’t include the transformative changes needed for Dodd-Frank and the agency it created, the Consumer Financial Protection Bureau (CFPB).
