Three weeks ago today, the U.S. Senate passed a bank deregulation bill that either provides modest relief to one of the country’s most heavily regulated and scrutinized industries—or sows the seeds of our next great banking crisis.
Sponsored by Sen. Mike Crapo (R-Idaho), who chairs the Senate Banking Committee, the measure passed by a 67-31 vote that included 15 Democrats and Sen. Angus King, an independent from Maine. The Crapo bill has often been described in the media as a “roll back” of the landmark Dodd-Frank Act of 2010.
