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House votes to ease regulation of banks, sending bill to Trump

House votes to ease regulation of banks, sending bill to Trump

The measure, which had been held up in the House for more than two months after passing the Senate in March, will free dozens of regional banks from stricter Federal Reserve oversight and scores more from lending and data reporting rules.

Other aspects of the legislation meant to bolster community banks and credit unions include loosening appraisal requirements for certain mortgage loans and exempting firms with less than $10 billion in assets from the Volcker Rule. Named after former Fed Chairman Paul Volcker, the rule bans banks from making risky trades with their own assets

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