November 13, 2017 / 6:38 PM / a year ago

Senate reaches deal to offer regulatory relief to US banks - WSJ

Nov 13 (Reuters) - A bipartisan group of Senate lawmakers has reached a tentative agreement to ease some costly regulations on U.S. regional banks which were put in place following the financial crisis, the Wall Street Journal reported on Monday.

The deal seeks to exempt banks with up to $250 billion in assets from heightened regulatory scrutiny from the Federal Reserve, up from a current threshold of $50 billion, the newspaper reported, citing people familiar with the matter. (

Senate Banking Committee Chairman Mike Crapo and a group of moderate Democrats struck the deal, a formal announcement of which is expected later on Monday, according to the WSJ report. (Reporting By Aparajita Saxena in Bengaluru; Editing by Shounak Dasgupta)

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