Congress loosens banking regulations
WASHINGTON (AP) Congress has moved to dismantle some key rules for banks that were installed to prevent a replay of the 2008 financial crisis.
The House voted 258-159 Tuesday to approve legislation rolling back the landmark Dodd-Frank law, sending the bill to President Donald Trump. He is poised to sign it into law to deliver on a campaign pledge of gutting Dodd-Frank.
The Republican-led bill, which already cleared the Senate in March, garnered votes from some House Democrats.
The legislation increases fivefold, to $250 billion in assets, the threshold at which banks are deemed so big and plugged into the financial grid that if one were to fail it would cause major havoc. Those banks currently are subject to stricter capital and planning requirements.
Trump says summit may be delayed
WASHINGTON (AP) President Donald Trump suggested Tuesday that a planned historic meeting with North Koreas Kim Jong Un could be delayed, saying the summit may not work out for June 12.
Trump raised the possibility that the meeting could be pushed back during a White House meeting with South Korea President Moon Jae-in as the two leaders sought to coordinate strategy as concerns mounted over ensuring a successful outcome for the North Korea summit.
Trump told reporters: If it doesnt happen, maybe it happens later, reflecting recent setbacks to bring about reconciliation between the two Koreas. The North pulled out of planned peace talks with the South last week, objecting to long-scheduled joint military exercises between U.S. and the Republic of Korea forces, and it threatened to abandon the planned Trump-Kim meeting over the U.S. insistence on denuclearizing the peninsula.
Moon said in the Oval Office that the fate and the future of the Korean Peninsula hinged on the talks, telling the U.S. president that they were one step closer to the dream of a denuclearized Korean Peninsula.
