The Senate approved a bipartisan bill to roll bank some crisis-era banking regulations Wednesday. The bill would exempt many small and midsize banks from parts of the Dodd-Frank banking reform bill passed in 2010, following the financial crisis. The plan, which was sponsored by Sen. Mike Crapo, R-Idaho, passed 67-31, with the support of 17 centrist Democrats. Supporters say it would free smaller banks from burdensome rules and encourage more lending, while critics says it will hurt consumers and increase risk in the banking industry. The bill will now move to the House, where it is likely to face revisions that could delay its final passage.
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