On March 14th, the Senate passed a bipartisan bill to loosen the reigns of the Dodd-Frank Act, approving the bill with a vote of 67 to 31. Key components of the bill include an exclusion of banks originating fewer than 500 mortgage loans annually from certain borrower-related racial and income reporting requirements, and an increase in the asset threshold of banks subject to increased federal oversight from $50 billion to $250 billion. Supporters of the bill claim the relaxed requirements will spur economic growth and reduce consumer costs, while opponents contend that the bill recreate financial- industry risk experienced prior to the passage of Dodd-Frank. The bill now moves on to the House where it is expected to undergo several changes.

Click here for the Congressional Record. 
Click here for the Amendment.