Dodd-frank primedfor pruningby U.S. senators

WASHINGTON — Ten years after a financial crisis rocked the nation’s economy, the Senate is poised to pass legislation that would roll back some of the safeguards Congress put into place to prevent a relapse.

Themovetoaltersomekey aspects of the Dodd-frank law has overwhelming Republican support and enough Democratic backing that it’s expected to gain the 60 votes necessarytoclearthesenate.several Democratic lawmakers facing tough re-election races this year have broken ranks with Minority Leader Chuck Schumer, D-N.Y. and Sen. Elizabeth Warren, D-mass.

The legislation would increase the threshold at which banks are considered too big to fail. Such banks are subject to stricter capital and planning requirements, and lawmakers are intent on providing them relief in hopes that it will boost lending and the economy.

DODD-FRANK

Ben Bunker, another local attorney focused on small businesses and firearms law, said the Bureau of Alcohol, Tobacco, Firearms and Explosives — which issues gun dealer licenses — gives broad discretion

for the people companies like Dick’s chooses to call customers.

Broad discretion allows dealers to decide not to sell a gun to someone who will then give it to somebody else, who is possibly unable to legally obtain one on their own — a move called a straw purchase, Bunker said.

“I doubt Dick’s would face any (legal action), as they are a private

enterprise and can choose to sell whatever product they want,” he said. “They will only be driving business to smaller, mom-and-pop gun stores now with this decision.”

Contact Wade Tyler Millward at wmillward@reviewjournal. com or 702-383-4602. Follow @ wademillward on Twitter.