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Congress eases post-crisis bank rules in victory for Trump [Reuters (UK)]

BANK of NEW YORK MELLON (BK)  More Company Research Source: Reuters
Last bank of new york mellon earnings: 10/18 06:30 am Check Earnings Report
PDF Congress eases post-crisis bank rules in victory for Trump | Reuters 5 Min Read WASHINGTON (Reuters) - The U.S. House of Representatives passed on Tuesday bipartisan legislation that would ease bank rules introduced in the wake of the 2007-2009 financial crisis, giving President Donald Trump a major legislative victory. The vote eases some of the 2010 Dodd-Frank rules that have hurt smaller banks and community lenders and keeps the Republican president’s promise to try to spur more economic growth by cutting regulation, but does little for Wall Street. It is a far cry from the repeal that Trump pledged on the campaign trail, leaving largely untouched the core Dodd-Frank provisions designed to ensure financial stability and other rules most hated by banks and conservative Republicans. But industry lobbyists say Trump’s administration played a key role in getting the bipartisan legislation, which had been under discussion for years, across the finish line. The bill, which was approved b [Read more]

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