The leash has been loosened, but banks may not care for it much.
The financial sector followed the broader market lower on Wednesday, May 23, a day after Congress passed a plan that aims to roll back post-crisis bank regulations by weakening the 2010 Dodd-Frank Act.
Members of the House of Representatives voted 258 to 159 in support of the bill, which has been called the Crapo bill after its biggest proponent, Sen. Mike Crapo (R. Idaho), in a quiet session on Tuesday. Nearly all House Republicans voted in favor of the bill and 33 Democrats joined, making it one of the more bipartisan issues to take focus on Capitol Hill in this administration.
