Small banks, big banks and even credit monitoring companies like Equifax score with this legislation.
HUFFPO-
The Senate on Wednesday passed a bill so friendly to banks that even a Republican worried it goes too far.
By a vote of 67-to-31, the Senate passed the Economic Growth, Regulatory Relief, and Consumer Protection Act, which is aimed at reducing the regulatory burden on struggling community banks ? even though most such banks are thriving. Supporters also argued that the bill would make it easier for Americans to buy a home by increasing their access to capital.
The measure would also exempt 25 of America’s biggest banks from regulations created in response to the financial crisis that contributed to the Great Recession a decade ago. The Congressional Budget Office warned that the risk of another financial crisis “would be slightly greater under the legislation.”
