
Fed Approves Rules Loosening Dodd-Frank Restrictions on Small Banks
The Federal Reserve is easing restrictions imposed on small banks following the 2008 financial crisis, giving a victory to the banking industry and President Donald Trump.
The Federal Reserve is easing restrictions imposed on small banks following the 2008 financial crisis, giving a victory to the banking industry and President Donald Trump.
It may not happen often, but both credit union and community bank advocates cheered yesterday as the U.S. House of Representatives passed a Dodd-Frank regulatory relief package, sending the bill to President Donald Trump, who is expected to sign the legislation into law.
The biggest winners in the Senate’s proposed Dodd-Frank relief bill would be banks that have not yet crossed the $50 billion threshold, and not yet incurred the additional compliance costs that accompany that threshold.