Financial regulations

Democrats drew a line in the sand Wednesday, opposing a provision in a GOP bill that would allow banks to comply with fewer rules in exchange for holding more capital.

Speaking at a town hall event in Washington, JPMorgan Chase CEO Jamie Dimon said that post-crisis regulations have made mortgages too costly for consumers — and made homeownership unattainable for borrowers with low incomes or blemished credit histories.

With slim odds of getting eight Democrats to support major Dodd-Frank Act reforms, Republicans are turning to other measures to make changes to the 2010 reform law.

Under the Trump administration, the challenge for the industry is to find the proper balance between supporting post-financial crisis regulations that have worked well and campaigning for reform efforts that have been ineffective.