This misnamed bill puts consumers and our economy at greater risk by weakening important financial regulations put in place after the 2008 crisis to protect Americans from predatory lending and promote financial stability. It undermine the current safety and soundness requirements that apply to mid-size banks and gives even the largest Wall Street megabanks new statutory tools for pressuring the Federal Reserve to weaken regulations designed to make banks more accountable. It weakens protections against predatory, unaffordable mortgage lending practices and broadens exemptions from the mortgage affordability requirements created by Dodd-Frank. The bill passed the Senate on March 14, 2018, and became law on May 24, 2018.
Vote result: Passed
YEAs: 67
NAYs: 31
Legislator | State | Party Sort descending | Vote | |
---|---|---|---|---|
Sen. Charles E. Schumer | Democrat | No | ||
Sen. Doug Jones | Democrat | Yes | ||
Sen. Brian Schatz | Democrat | No | ||
Sen. Bob Casey | Democrat | No | ||
Sen. Thomas R. Carper | Democrat | Yes | ||
Sen. Mazie K. Hirono | Democrat | No | ||
Sen. Benjamin L. Cardin | Democrat | No | ||
Sen. Angus King | ID ID | Yes | ||
Sen. Bernard Sanders | ID ID | No | ||
Sen. Pat Roberts | Republican | Yes | ||
Sen. Dean Heller | Republican | Yes | ||
Sen. Shelley Moore Capito | Republican | Yes | ||
Sen. Jim Risch | Republican | Yes | ||
Sen. Richard M. Burr | Republican | Yes | ||
Sen. Rob Portman | Republican | Yes | ||
Sen. Orrin G. Hatch | Republican | Yes | ||
Sen. John Boozman | Republican | Yes | ||
Sen. David Perdue | Republican | Yes | ||
Sen. Rand Paul | Republican | Yes | ||
Sen. Charles E. Grassley | Republican | Yes |