Neither the central bank’s gradual raising of interest rates, nor its modest changes to capital rules are likely to meaningfully increase risk to the financial system.
With the regulatory relief bill set to become law soon, some congressional Republicans are already calling for additional rollbacks to the Dodd-Frank Act. There’s one thing they should keep in mind: Community banks had a hand in the crisis too.
A federal appeals court overturned part of the 2010 law’s risk retention rule earlier this year. The legal battle highlights mistakes to be avoided during the next reform fight.
The House affirmed this week that it would move forward with a vote on a Senate bill overhauling parts of Dodd-Frank, but how far lawmakers push additional relief proposals is still unclear.
Ryan, McConnell say they have a deal on a bipartisan Dodd-Frank rollback; New York won more than $5 billion in settlements from big banks under the former AG.
Bill supporters say the guidance — which held indirect auto lenders liable for unintentional discrimination at partner dealerships — violated Dodd-Frank, but consumer advocates say the legislation would expose minority borrowers to mistreatment.
Speaker Paul Ryan said the House will vote on Dodd-Frank reform legislation that originated in the Senate, but additional House reg relief measures are still on the table.
The group made its plea in a petition, signed by over 10,000 community bank employees, urging lawmakers to quickly move a bill rather than subject the process to "further delay or inaction."
