Private-equity titans including Apollo Global Management LLC and Ares Management LP are poised to score a big win after lawmakers included in the $1.3 trillion spending bill a measure the industry has been lobbying over for years. In a last-minute change to legislation that funds federal agencies, lawmakers added language Wednesday that would allow investment companies controlled by private-equity firms to borrow more money and increase their lending. The revision would ease rules for what’s...

The U.S. House has approved a sweeping overhaul of bank regulations, sending to President Donald Trump a bill that will give him a chance to make good on his vow to "do a big number" on the Dodd-Frank Act. Lawmakers voted 258-to-159 Tuesday to advance a measure that is the product of years of financial-industry lobbying to soften post-crisis rules and sensitive negotiations on Capitol Hill to attract bipartisan support needed to get it through the narrowly-divided Senate. The legislation...

Trump adviser supports split of lending and investment banking Senators asked his views on Glass-Steagall in private meeting In a private meeting with lawmakers, White House economic adviser Gary Cohn said he supports a policy that could radically reshape Wall Street’s biggest firms by separating their consumer-lending businesses from their investment banks, said people with direct knowledge of the matter. Cohn, the ex-Goldman Sachs Group Inc. executive who is now advising President Donald...