A leading Democrat in the U.S. House of Representatives on Tuesday said undesirable Wall Street banks got a long-sought rollback to Dodd-Frank reforms with Congress last week partly by leveraging the impact of smaller banks that hold higher guide with lawmakers.

‘They have been working for a very long time, attempting different approaches on it,’ California Representative Maxine Waters said in an interview. ‘The large banks are in problem with a lot of lawmakers ... so they put the local banks before them in order to get more support.’

JPMorgan Chase & Co and Citigroup Inc wanted to turn back a regulation in the Dodd-Frank law that would have compelled banks to push derivatives trading into separate units. The ‘PUSH OUT’ policy would certainly have enhanced banks' trading expenses.

The rollback was consisted of in the $1.1 trillion investing bundle gone by Congress that funds most federal government firms via September 2015.

Wall Street banks released a full-court press this year to get the provision into that expense, lawmakers and congressional aides said. Banks wanted a vehicle most legislators would feel urged to vote for before the policy took effect in July 2015.

‘They recognized this was a must-pass expense,’ Waters said.

The derivatives rider, 1st offered by Kansas Republican Representative Kevin Yoder, was agreed on by a bipartisan group negotiating the omnibus spending package.

Lots of Democrats criticized it as going easy on Wall Street. Appropriators stated they fought back worse adjustments to the regulation and also gained higher financing for two key regulatory authorities.

Jamie Dimon, chief executive of JPMorgan, personally called lawmakers just before they elected on the package deal. President Barack Obama dispatched a top deputy Thursday to encourage House Democrats to vote for the compromise.

Yet in interviews after the bill passed, bank lobbyists and Hill staffers stated the words ‘Wall Street were anathema to a lot of legislators. They said banks such as SunTrust & Fifth Third, which had associations to local legislators, really acquired the adjustments across the finish line.

Regional bank representatives met with Hill lawmakers & Treasury officials & participated in Conference Calls, congressional staffers and also lobbyists said.

Yoder's spokesman, CJ Grover, said the lawmaker proposed the amendment since smaller regional banks and farmers used derivatives to manage risk.

Waters, however, said the biggest U.S. banks were the beneficiaries of the Dodd-Frank modification.

‘The large banks tried to conceal behind the regional banks,’ she said. "That's just what it's about.’