The first significant bipartisan attempt to alter rules established after the 2008 financial crisis is turning into a battle on Capitol Hill, as some of the biggest Wall Street banks seek to weaken a crucial requirement aimed at ensuring that they can withstand financial losses.

The Senate plans to vote this week on a bill aimed at allowing hundreds of smaller banks to avoid some of the stricter federal rules ushered in as part of the 2010 Dodd-Frank law, while leaving the toughened regulatory regime largely intact for the nation’s biggest banks.

But a little-noticed provision, which creates a small exemption to a capital requirement meant to prevent banks from running into the same type of financial crunch that helped tip the economy into the Great Recession, is being seized on by major banks. They are pushing to expand the exemption in a way that analysts and former government regulators say would undermine a central pillar of the Dodd-Frank law.

“Even though this fight hasn’t garnered as much attention, its impact is significant,” said Isaac Boltansky, policy research director for Compass Point, an investment bank. “It signals the next round in the Dodd-Frank wars.”

Read more in the Milwaukee Business Journal.