Senate GOP leaders add elements to bipartisan bank bill

WASHINGTON (AP) — The Senate debated a banking bill Thursday after GOP leaders added some further limits on regulators as well as consumer benefits to the legislation rolling back restraints on banks, as substantial support from Democrats helped edge the bill closer to passage.

The legislation before the Senate would alter key elements of the Dodd-Frank law enacted to prevent a repeat of the financial crisis 10 years ago that brought the economy to the edge of collapse. The bill has 13 Republican and 13 Democratic or independent co-sponsors, a rare level of bipartisanship for significant legislation in the current Congress. A final vote is expected early next week.

At the bill's core is a five-fold increase, to $250 billion, in the level of assets at which banks are deemed so big and intertwined with the financial system that.

Source:  YahooNews