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Senator Warns Bankers That Dodd-Frank Relief Could Stall - ABI

A Democratic senator who supports rolling back some of the financial rules put in place after the 2008 financial crisis warned bankers yesterday that the legislation will stall if it comes back to the Senate for another vote, the Associated Press reported. Sen. Mark Warner's (Va.) comments are a warning shot to House Republicans, who are insisting on adding to Senate-passed legislation that would scale back the law known as Dodd-Frank. "This bill will not pass if it comes back to the Senate," Warner said. "We stretched this about as far as we can go. The House of Representatives needs to accept this legislation." The Senate passed legislation in March targeting relief for all but the biggest banks. The House had earlier passed a more expansive bill that also went after the Consumer Financial Protection Bureau. The House version passed with no Democratic support.

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