GOP Senate leader says Dodd-Frank unlikely to be overhauled


Senate Majority Leader Mitch McConnell said he’s pessimistic Congress will overhaul the Dodd-Frank Act because he doubts Republicans can secure enough Democratic votes to make major changes to the sweeping legislation that tightened oversight of banks after the financial crisis.

“I’d love to do something about Dodd-Frank, particularly with regard to community banks but that would require Democratic involvement,” Kentucky’s McConnell told Bloomberg News in an interview Tuesday. “I’m not optimistic.”

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