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Last month, Congress agreed to free thousands of banks from tight restrictions put in place by the 2010 Dodd-Frank law – legislation put in place to prevent a new financial crisis.
According to Money Morning Capital Wave Strategist Shah Gilani, we shouldn't be surprised.
"It's no surprise that Congress is pushing bank deregulation," Gilani said. "After all, it's a midterm election year, and both parties want bank and financial services money directed their way."