Congress appeared on the cusp of rolling back post-financial-crisis banking rules last month after Republicans and moderate Democrats passed a bill in the Senate, but now a standoff threatens to derail the effort entirely, the Washington Post reported. Rep. Jeb Hensarling (R-Tex.), chairman of the House Financial Services Committee, wants to change the Senate bill to bring it closer to a more expansive version of the rollback the House passed last year. For Hensarling, it is a last chance before retirement to take aim at the banking rules against which he has struggled for years, only to see his previous efforts stall in the Senate. The Democrats who backed the Senate bill are telling Hensarling their version is a take-it-or-leave-it proposition, saying that changes would imperil their coalition. White House officials are making clear that they want to see the legislation finalized sooner rather than later. President Trump said during a tax event in West Virginia last week that the banking bill “should be done fairly quickly.” Read more.
Join thought leaders from academia and the bench, representatives from U.S. and European governmental agencies and private organizations on April 19 for a symposium to examine the policies, strategies & proposals erected in the 10 years since the Financial Crisis. Click here for more information and to register.
