Federal Reserve approves ease on restrictions imposed on banks


WASHINGTON (AP) _ The Federal Reserve has approved a package of rules that will ease restrictions imposed on banks following the 2008 financial crisis, giving a victory to the banking industry and President Donald Trump, a vocal critic of the more stringent rules.

The Fed’s rule changes approved today will implement legislation passed by Congress in May 2018 that loosens restrictions that had been imposed by the Dodd-Frank Act that passed in 2010.

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