The Senate today passed a wide-ranging bank deregulation bill that would scale back key parts of the 2010 Dodd-Frank law.
The Senate voted 67-31 to pass the bill, which had been up for debate on the Senate floor for more than a week. Sixteen Democrats joined with Republicans to pass the legislation.
The bill was the product of years of talks among Senate Banking Chairman Mike Crapo (R-Idaho) and a core group of moderate Democrats: Heidi Heitkamp (D-N.D.), Jon Tester (D-Mont.), Jon Tester(D-Ind.) and Mark Warner (D-Va.).
House Financial Services Chairman Jeb Hensarling (R-Texas) has pledged to put the House's stamp on the bill, clouding the outlook for when it will become law and in what form.