U.S. President Donald Trump signs an Executive Order related to the review of the Dodd-Frank Act in the Oval Office of the White House, in Washington, D.C., Photographer: Aude Guerrucci/Pool via Bloomberg

Since President Donald Trump signed an executive order last year seeking ways to ease banking rules prompted by the global financial crisis, much has happened — but not much has been completed.

On Wednesday, the U.S. Senate took the most concrete step so far, passing a bill that provides considerable regulatory relief to smaller lenders such as regional and community banks. Yet, it’s probably the least worrisome for defenders of the 2010 Dodd-Frank Act, the bedrock law enacted to prevent a future financial meltdown.

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