As the central bank board proceeds with reforms easing the post-crisis regulatory regime, the Obama-appointed governor has not shied from opposing the agency’s course.
The Consumer Financial Protection Bureau proposed steps to ease Home Mortgage Disclosure Act requirements, just days after announcing it was retiring a platform to let users analyze raw mortgage data.
Following the Federal Reserve Board, the FDIC signed off on proposed measures to ease resolution planning requirements and tailor supervisory standards for foreign banking companies operating in the U.S.
Despite consensus that regulators should ease so-called “living will” requirements by some degree, critics charge that a proposal by the Fed and FDIC could undo gains in making large banks easier to resolve.
Regulators and lawmakers go to great lengths to avoid using the term for reforms in the Trump era, but its meaning is consistent with recent steps to revise and clarify the post-crisis regime.
The Federal Reserve Board unveiled a host of proposed changes to tailor U.S. supervision of foreign firms, as well as a proposal easing “living will” requirements for both domestic and overseas banks.
