House Passes Banking Deregulation Bill, Federal Reserve Eases Capital Requirements

The U.S. House of Representatives passed legislation (H.R. 6955) to ease banking regulations, a move described by some as the 'most sweeping deregulation of Wall Street' since the 2008 financial crisis. This follows a Federal Reserve proposal in March to reduce the capital large and regional banks must hold, further rolling back protections established after the crisis.