Senate Banking chair, Democrats say still hopeful for deal on Dodd-Frank bank rules rewriteWASHINGTON (Reuters) - Senior U.S. Republican and Democratic Senators said on Wednesday they would push ahead with efforts to reach a bi-partisan deal on rolling-back some financial rules introduced the 2008 financial crisis, even after a leading Democratic lawmaker walked away from talks. Their comments bolstered hopes among banking lobbyists that Congress may yet agree legislation to roll-back some aspects of the 2010 Dodd Frank law, potentially cutting billions in costs for banks, after bi-partisan discussions appeared to falter. Senator Sherrod Brown, the leading Democrat on the Senate Banking Committee, said in a statement on Wednesday that he was stepping away from months-long private negotiations with the Committee’s Republican chair Senator Mike Crapo over rolling-back elements of the 2010 Dodd Frank law, saying they had reached an impasse. On Wednesday, however, Crapo told reporters he was still working towards a regulatory reform bill and would renew efforts to reach a bipartisan compromise.  “I intend to move forward to build a bipartisan solution, and I hope to be able to do so soon,” Crapo told reporters. Bank lobbyists told Reuters they remained optimistic a bill still could be passed, saying Brown’s exit had cleared the path for several Democrats more sympathetic to Crapo’s position to take over the negotiations. Spokespeople for Senators Heidi Heitkamp and Joe Donnelly, two of the banking panel’s moderate Democratic members, told Reuters on Wednesday they were open to rekindling the talks. “Congress needs to make the financial regulatory system work better for everyone, and I’m willing to work with anyone on a deal that would accomplish that goal,” Heitkamp said in a statement. Donnelly said in a statement he believed there was still an opportunity to negotiate a relief package for community financial institutions “while protecting consumers and ensuring the safety of our financial system.” The House of Representatives has already passed a broad rewrite of Dodd-Frank legislation, but the Senate will ultimately determine what, if any, relief the Republican-led Congress hands to banks. Industry expectations on a final deal had been modest because Senate Republicans need eight Democrats to support their efforts in order to pass changes to Dodd Frank.  The exact shape of a regulatory reform bill is not public. There is bipartisan support for easing requirements on smaller banks and credit unions, but reducing the number of banks that face stricter oversight because they are considered critical to the financial system has proved a point of contention. Currently, banks with over $50 billion in assets are considered “systemically important “ and must comply with stricter rules. Republican lawmakers are considering raising that threshold, but this is opposed by some powerful Democrats including Senator Elizabeth Warren. “After working in good faith, it’s clear we will not be able to reach a compromise that protects consumers while supporting small banks and credit unions,” said Brown in a statement. “I continue to support small banks and credit unions, but I cannot agree to gutting protections for working people and taxpayers.” (This version of the story was refiled to add missing word “following” in the lead paragraph) politicsNews
senate banking chair democrats say still hopeful deal bank rules rewritewashington reuters senior republican democratic senators said wednesday would push ahead efforts reach deal financial rules introduced financial crisis even leading democratic lawmaker walked away talks their comments bolstered hopes among banking lobbyists congress may yet agree legislation aspects odd frank law potentially cutting billions costs banks discussions appeared filter senator sherdog brown leading democrat senate banking committee said statement wednesday stepping away private negotiations committee republican chair senator mike crap elements odd frank law saying reached impasse on wednesday however crap told reporters still working towards regulatory reform bill would renew efforts reach bipartisan compromise i intend move forward build bipartisan solution i hope able soon crap told reporters bank lobbyists told reuters remained optimistic bill still could passed saying brown exit cleared path several democrats sympathetic crap position take negotiations sportspeople senators held heitkamp joe donnelly two banking panel moderate democratic members told reuters wednesday open reminding talks congress needs make financial regulatory system work better everyone i willing work anyone deal would accomplish goal heitkamp said statement donnelly said statement believed still opportunity negotiate relief package community financial institutions protecting consumers ensuring safety financial the house representatives already passed broad rewrite legislation senate ultimately determine relief congress hands banks industry expectations final deal modest senate republicans need eight democrats support efforts order pass changes odd frank the exact shape regulatory reform bill public there bipartisan support easing requirements smaller banks credit unions reducing number banks face stricter oversight considered critical financial system proved point contention currently banks billion assets considered systematically important must comply stricter rules republican lawmakers considering raising threshold opposed powerful democrats including senator elizabeth warren after working good faith clear able reach compromise protects consumers supporting small banks credit unions said brown statement i continue support small banks credit unions i agree getting protections working people this version story refined add missing word following lead paragraph politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Senate Banking chair, Democrats say still hopeful for deal on Dodd-Frank bank rules rewriteWASHINGTON (Reuters) - Senior U.S. Republican and Democratic Senators said on Wednesday they would push ahead with efforts to reach a bi-partisan deal on rolling-back some financial rules introduced the 2008 financial crisis, even after a leading Democratic lawmaker walked away from talks. Their comments bolstered hopes among banking lobbyists that Congress may yet agree legislation to roll-back some aspects of the 2010 Dodd Frank law, potentially cutting billions in costs for banks, after bi-partisan discussions appeared to falter. Senator Sherrod Brown, the leading Democrat on the Senate Banking Committee, said in a statement on Wednesday that he was stepping away from months-long private negotiations with the Committee’s Republican chair Senator Mike Crapo over rolling-back elements of the 2010 Dodd Frank law, saying they had reached an impasse. On Wednesday, however, Crapo told reporters he was still working towards a regulatory reform bill and would renew efforts to reach a bipartisan compromise.  “I intend to move forward to build a bipartisan solution, and I hope to be able to do so soon,” Crapo told reporters. Bank lobbyists told Reuters they remained optimistic a bill still could be passed, saying Brown’s exit had cleared the path for several Democrats more sympathetic to Crapo’s position to take over the negotiations. Spokespeople for Senators Heidi Heitkamp and Joe Donnelly, two of the banking panel’s moderate Democratic members, told Reuters on Wednesday they were open to rekindling the talks. “Congress needs to make the financial regulatory system work better for everyone, and I’m willing to work with anyone on a deal that would accomplish that goal,” Heitkamp said in a statement. Donnelly said in a statement he believed there was still an opportunity to negotiate a relief package for community financial institutions “while protecting consumers and ensuring the safety of our financial system.” The House of Representatives has already passed a broad rewrite of Dodd-Frank legislation, but the Senate will ultimately determine what, if any, relief the Republican-led Congress hands to banks. Industry expectations on a final deal had been modest because Senate Republicans need eight Democrats to support their efforts in order to pass changes to Dodd Frank.  The exact shape of a regulatory reform bill is not public. There is bipartisan support for easing requirements on smaller banks and credit unions, but reducing the number of banks that face stricter oversight because they are considered critical to the financial system has proved a point of contention. Currently, banks with over $50 billion in assets are considered “systemically important “ and must comply with stricter rules. Republican lawmakers are considering raising that threshold, but this is opposed by some powerful Democrats including Senator Elizabeth Warren. “After working in good faith, it’s clear we will not be able to reach a compromise that protects consumers while supporting small banks and credit unions,” said Brown in a statement. “I continue to support small banks and credit unions, but I cannot agree to gutting protections for working people and taxpayers.” (This version of the story was refiled to add missing word “following” in the lead paragraph) politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: senate banking chair democrats say still hopeful deal bank rules rewritewashington reuters senior republican democratic senators said wednesday would push ahead efforts reach deal financial rules introduced financial crisis even leading democratic lawmaker walked away talks their comments bolstered hopes among banking lobbyists congress may yet agree legislation aspects odd frank law potentially cutting billions costs banks discussions appeared filter senator sherdog brown leading democrat senate banking committee said statement wednesday stepping away private negotiations committee republican chair senator mike crap elements odd frank law saying reached impasse on wednesday however crap told reporters still working towards regulatory reform bill would renew efforts reach bipartisan compromise i intend move forward build bipartisan solution i hope able soon crap told reporters bank lobbyists told reuters remained optimistic bill still could passed saying brown exit cleared path several democrats sympathetic crap position take negotiations sportspeople senators held heitkamp joe donnelly two banking panel moderate democratic members told reuters wednesday open reminding talks congress needs make financial regulatory system work better everyone i willing work anyone deal would accomplish goal heitkamp said statement donnelly said statement believed still opportunity negotiate relief package community financial institutions protecting consumers ensuring safety financial the house representatives already passed broad rewrite legislation senate ultimately determine relief congress hands banks industry expectations final deal modest senate republicans need eight democrats support efforts order pass changes odd frank the exact shape regulatory reform bill public there bipartisan support easing requirements smaller banks credit unions reducing number banks face stricter oversight considered critical financial system proved point contention currently banks billion assets considered systematically important must comply stricter rules republican lawmakers considering raising threshold opposed powerful democrats including senator elizabeth warren after working good faith clear able reach compromise protects consumers supporting small banks credit unions said brown statement i continue support small banks credit unions i agree getting protections working people this version story refined add missing word following lead paragraph politicsnews