American Banker, March 14, 2018: 5 questions as reg relief moves closer to becoming law
The bill, which passed the Senate 67-31, is surely not all the industry wanted. But it is still a clear win for banks — particularly smaller ones — that have abhorred Dodd-Frank.
The bill relaxes a number of standards for small and regional banks, tweaking mandates around the Federal Reserve’s stress tests, the Consumer Financial Protection Bureau’s “qualified mortgage” rule, the Volcker Rule and much more. The main provision allows certain midsize banks to escape tougher Dodd-Frank supervision by raising a key asset threshold from $50 billion to $250 billion.
The chamber approved the legislation with the support of over a dozen moderate Democrats. The bill will move to the House for consideration, where Republicans are seeking to incorporate several additional provisions of their own.
Follow the link to read about five key questions for the industry as the package winds its way through Congress.