The banking industry is counting on regulatory relief coming out of the Trump administration and Congress, potentially lowering costs and boosting returns for investors. But there are significant constraints on how much the White House and Congress might be able to deliver.
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Although the news was mostly positive, the Federal Deposit Insurance Corp.'s Quarterly Banking Profile revealed potential warning signs for financial institutions.
A vote on a House plan to replace the Dodd-Frank Act may not happen as quickly as originally expected due to limited floor time and other legislative priorities, such as health care reform, that are likely to take precedent.
In President Trump’s first joint address to Congress, he listed several top priorities, including repealing Obamacare and enacting tax reform, but made no mention of reforming the Dodd-Frank Act.
Lawmakers voiced bipartisan support for regulatory relief during the Credit Union National Association government affairs conference on Tuesday, arguing that small financial institutions have had to bear the brunt of too many regulations.
In an exclusive American Banker poll, bankers see President Trump as a positive force for the financial services industry and are optimistic his administration can deliver on CFPB reform and simpler capital rules.
Congressional Republicans are weighing potentially broad changes to the stress test program, including alterations to the way the tests are performed and the consequences of failing them.
Rep. Blaine Luetkemeyer, the chairman of the House financial institutions subcommittee, said Wednesday that he plans to reintroduce a bill that would change the way banks are designated as systemically important.
