Congress passes Dodd-Frank rollback

The U.S. House of Representatives on Tuesday voted to ease portions of the 2010 Dodd-Frank Act, a law that boosted government oversight of banks in the wake of the 2008 financial crisis. The 258-159 House vote followed a 67-31 vote in the Senate in March. President Donald Trump on Wednesday indicated he’s eager to sign the bill: “Big legislation will be signed by me shortly,” tweeted the president, who added, “big changes to DODD FRANK.” The bill will raise the threshold at which banks are deemed too big to fail, a category that subjects banks to stricter capital and planning requirements. The change would ease restrictions on more than two dozen financial institutions, including BB&T Corp., SunTrust Banks, and American Express. Supporters argue loosening the restraints will boost lending and the economy.