Jon Tester

House-Senate standoff imperils effort to roll back post-financial crisis banking rules

Congress appeared on the cusp of rolling back post-financial crisis banking rules last month after Senate Republicans and moderate Democrats passed a bill through the Senate despite opposition from high-profile progressives. But now a stubborn standoff between a powerful House Republican, Senate Democrats and the White House threatens to derail the effort entirely.

Rep. Jeb Hensarling, R-Texas, chairman of the House Financial Service Committee, wants to change the Senate bill to bring it closer to a more expansive version of the rollback the House passed last year. For Hensarling, it's a last chance before retirement to take aim at the banking rules he has struggled against for...