The banking industry braced for big changes with the election of President Trump, but the financial reform law has proven its staying power over the past year.
A regulatory relief package is likely to come out of the Senate in the new year, and lawmakers could follow it up with a housing finance reform push. But the midterm election could cause some reform initiatives to grind to a halt.
The GSEs are on their way to paying back the money they owed the government under the original bailout deal made at the height of the financial crisis, making 2018 an opportune time for an overhaul of the housing finance market.
The Trump administration's Financial Stability Oversight Council is likely to remove the systemically important financial institution label for the remaining nonbanks on the list, but it might consider adding other firms such as Fannie Mae and Freddie Mac.
The $50 billion threshold replaced by a formula, but bill must be reconciled with Senate version; Fed, FDIC say the eight big banks still have work to do.
Despite increasing bipartisan support to remove asset cutoffs for "systemically important financial institutions," Congress will likely settle for an asset threshold increase.
House bill would deregulate both domestic and foreign banks that control trillions of dollars of combined assets, reducing financial stability and tying the hands of regulators to reapply heightened standards in the future.
The Senate Banking Committee's passage of a regulatory relief bill is fueling optimism about its advancement, but it still must clear a series of legislative hurdles before becoming law.
The Office of Financial Research said the failure of a large financial institution could still ignite a crisis; hotel chain plans to use both issuers for its credit cards.
During an industry conference Tuesday, executives from PNC, Wells Fargo, JPMorgan Chase and elsewhere offered differing takes on whether the Republican tax plan will boost loan demand.
