House votes to roll back Dodd-Frank banking regulations

The House voted Thursday to gut the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, which imposed tough restrictions on banks after the 2008 financial crisis. The bill, if it becomes law, would let big financial institutions, including investment and consumer banks and other financial institutions, such as insurance giants, avoid some of the banking reform law’s toughest regulations. Republicans, who control the House, pushed through the bill in a party line vote, marking the first part of what is expected to be a long fight over deregulation of the banking industry.

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