Congress moves toward easing bank, Wall Street rules

MARCY GORDON, AP Business Writer

WASHINGTON (AP) — The House is moving toward softening a law that brought strict rules for banks and Wall Street firms in response to the 2008 financial crisis.

Under a veto threat from the White House, the bill pushed by the newly bulked-up Republican majority came under discussion in the House on Tuesday for the second time in less than a week. This time it’s likely to pass, with a vote expected Wednesday that would advance a Republican priority.

The bill would alter sections of the 2010 Dodd-Frank financial overhaul. Most notably, it would give U.S. banks an extra two years — until 2019 — to ensure that their holdings of certain complex and risky securities don’t put them out of compliance with a new banking rule.