The bill passed by the House took a more cautious approach to relief than prior legislative proposals but has still been hailed by banking industry groups.
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.
The agencies proposed changes to the way they apply a capital backstop to the largest systemically important firms, replacing a static leverage ratio with a more dynamic ratio that takes each bank’s risk profile into account.
The Treasury secretary has suggested raising an asset cutoff used by the Financial Stability Oversight Council to assess systemically significant nonbanks, removing some hedge funds and other risky firms from the council's purview.
With the largest banks remaining profitable and globally competitive, Federal Reserve Chairman Jerome Powell said he has not yet heard a compelling case for giving them substantial regulatory relief.
Several states have created their own operations aimed at shoring up what they see as oversight holes created by the CFPB; JPMorgan CEO’s annual letter (47 pages, this one) runs the gamut.
