US Senate approves bill in first step to rewriting Dodd-Frank - Reuters

The US Senate voted Wednesday to approve a bill that eases some of the regulations under the Dodd-Frank reform that was enacted following the 2008 financial crisis, as reported by Reuters.

Key highlights:

• The US Senate voted 67-31 in approval of easing banking rules.
• Congress is a step closer to completing the first rewrite of the Dodd-Frank reform law.
• The draft now goes to the US House of Representatives.
• The House Republicans say they want to add further provisions to ease financial regulations.
• The bill eases tightened restrictions placed on small banks and community-level lenders, among other provisions that benefit all but the largest of the US banks.