The Senate is on the verge of passing a bill that will weaken Dodd-Frank, the landmark 2010 banking reform law. If passed, the new bill will exempt midsize banks with less than $250 billion in assets from strict regulatory scrutiny, and loosen some rules on small banks. It’s a Republican bill, but it’s also being supported by more than a dozen Democratic senators.
VICE News spoke to former congressman Barney Frank, the architect of Dodd-Frank, about what the new bill means, why some Democrats are supporting it, and how the original bill he helped write is holding up almost a decade after it was signed into law.
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