Schumer and McConnell in the Capitol. Photo: Tom Williams / CQ Roll Call

"Congress moved a step closer to relaxing the wave of crisis-era restrictions placed on the banking industry, ... with Senate approval of a bipartisan plan to ease rules for small and midsize banks," per the Wall Street Journal.

Why it matters: "The bill, which has a good chance of becoming law, would be the most significant revamp of financial rules since Republicans took control of government last year."

  • "Approved on a 67-31 vote, it seeks to cut red tape and relieve lenders from some of the most onerous rules put in place after the financial crisis, including restrictions meant to limit the damage firms could cause to the economy."
  • "Seventeen centrists from the Democratic caucus supported the bill, bucking the party’s liberals who eight years ago approved a sweeping legislative package meant to prevent another financial meltdown."

Rob Nichols, president and CEO of the American Bankers Association, said the strongly bipartisan vote provides a formula for other accomplishments in a gridlocked age:

  • Over years of fly-ins and other Capitol visits, bankers from around the country provided lawmakers with data-rich, fact-based, artful arguments.
  • Nichols: "Dodd-Frank isn't scripture. It can be improved."

Go deeper

52 mins ago - World

Countries waiting to see if Trump wins before moving on Israel normalization

The delegation lands at Israel's Ben Gurion airport. Photo: Jack Guez/AFP via Getty

The White House is attempting to leverage momentum from Israel's normalization deals with Bahrain and the UAE to get more Arab countries on board before the U.S. election.

Driving the news: President Trump wants Sudan's removal from the U.S. state sponsors of terrorism list to be accompanied by a pre-election announcement on Israel.

Poll: 92% of battleground state voters are "extremely motivated to vote"

Voters stand in line at the Metropolitan Multi-Services Center in Houston, Texas, on Oct. 13. Photo: Mark Felix for The Washington Post via Getty Images

91% of likely voters nationally say they are "extremely motivated to vote," including 92% in battleground states Arizona, Florida, Michigan, North Carolina, Pennsylvania and Wisconsin, according to a Change Research/CNBC Poll.

Why it matters: The 2020 election could see record-breaking levels of voter turnout. Voters last week cast ballots at nearly five times the rate they did at this point in the 2016 election, per the U.S. Elections Project. Over 39 million ballots have been cast in early voting states as of Wednesday.

Caitlin Owens, author of Vitals
2 hours ago - Health

OxyContin maker Purdue Pharma to plead guilty to 3 criminal charges

Members of P.A.I.N. (Prescription Addiction Intervention Now) and Truth Pharm staged a rally and die-in last year outside New Yorks Southern District Federal Court in White Plains, where Purdue Pharmaceuticals' bankruptcy hearing was being held. Photo: Erik McGregor/LightRocket via Getty Images

Purdue Pharma, the maker of OxyContin, will plead guilty to three federal criminal charges Wednesday as part of a more than $8 billion settlement with the Justice Department, AP reports.

Why it matters: "The settlement is the highest-profile display yet of the federal government seeking to hold a major drugmaker responsible for an opioid addiction and overdose crisis linked to more than 470,000 deaths in the country since 2000," AP notes.