Fed approves rules to loosen bank restrictions

WASHINGTON (AP) — The Federal Reserve has approved a package of rules that will ease restrictions imposed on banks following the 2008 financial crisis, giving a victory to the banking industry and President Donald Trump, a vocal critic of the more stringent rules.
The Fed’s rule changes approved Thursday will implement legislation passed by Congress in May 2018 to loosen restrictions, especially on smaller community banks, that had been imposed by the Dodd-Frank Act passed in 2010.
T