The House Financial Services Committee approved the Financial Choice Act by 34 to 26. While it has enough support to clear the GOP-controlled House, it is unlikely to gain traction in the Senate.
The House Financial Services Committee began debate Tuesday on a sweeping regulatory reform bill, yet while it is expected to pass on party lines, few expect it to standa chance in the Senate.
Rebeca Romero Rainey, a third-generation community banker who rose to executive leadership in her early 20s, has been tasked to lead the Independent Community Bankers of America at a pivotal time.
Cam Fine, the longtime CEO of the Independent Community Bankers of America, is set to announce plans to retire next year, handing the reins to a community banker.
During a meeting with more than a hundred community bankers on Monday, Trump administration officials made it clear they favored a system with different rules for small and big banks.
The debate over banking policy has tended to leave out all the other factors examiners use to gauge institution strength, therefore sidestepping a comprehensive approach to safety and soundness regulation.
Treasury Secretary Steven Mnuchin's upcoming report on how to rewrite financial regulation is likely to end up looking very similar to a Dodd-Frank overhaul plan in the House.
