With the question of a federal charter still looming, Treasury's last report on changes to the financial regulatory system will focus on nonbanks and new tech startups.
Months after a group of Democrats helped propel Dodd-Frank reforms forward, the opposition party’s identity crisis on banking policy is still on full display.
With comment periods quickly closing, responding to the agency’s abundant requests for information is proving a logistical hassle for the industry and consumer advocates.
The regulatory relief legislation rolls back several stress test requirements for regional and midsized banks, putting more onus on financial institutions and their regulators to ensure banks are managing their risk appropriately.
The plan, which the Federal Reserve Board approved Wednesday, would tailor compliance programs for banks based on their trading volume and revise definitions to help banks determine which trades are banned.
Compliance changes proposed by the Fed would likely please banks, but reactions to the plan from past and current policymakers have been wildly different.
