Monday, March 05, 2018

Senate Readies Rollback of Small and Midsize Bank Rules

The Senate is expected to soon approve the most significant bipartisan rollback of postcrisis financial rules since Republicans took control of Washington last year. The bipartisan legislation, supported by the Trump administration and top Federal Reserve officials, would relax dozens of rules for small to medium-size banks, shaking up the banking sector with policy changes that could encourage deal-making and make it easier for banks to expand.

Senate Majority Leader Mitch McConnell (R., Ky.) on Thursday took a procedural step to bring the bill to the floor early next week. The legislation has the Democratic support needed to clear the chamber after about a week of debate. The House would take up the plan next, possibly adding more deregulatory measures that have already cleared the chamber by a wide, bipartisan margin. Supporters aim to enact the bill before November's midterm election.


A central piece of the bill could relieve about two dozen regional banks from stricter rules put in place by the 2010 Dodd-Frank financial law, which sought to prevent another financial crisis with restrictions across the industry. The bill will raise the threshold at which banks face tighter oversight to $250 billion in assets from the current $50 billion -- a victory for midsize banks, which have long said they shouldn't be lumped in with the largest banks.

Supporters say the plan would boost lending by relieving all but the largest U.S. banks from the law's toughest aspects. One result: banks that have stayed under the $50 billion line to avoid enhanced oversight would be in play for mergers or acquisitions with other firms, possibly creating larger regional banks.


This is long overdue and will be a huge boost to the economy by allowing smaller and mid-size banks more flexibility to lend to individuals and small businesses.

And before the Usual Suspects start running in circles, note the repeated use of the word "bipartisan." If you need to, look it up.

#1 | Posted by Rightocenter at 2018-03-05 01:26 PM

I predict that in a matter of months, at most, this will be another topic rightoecentre will avoid at all costs.
Just like all the other "good news" he so eagerly has blown out of his ----- horn

#2 | Posted by ChiefTutMoses at 2018-03-05 01:29 PM

I support letting the little banks get bigger, but only to serve individuals and small business. Also with the caveat that they are financially stable.

#3 | Posted by BruceBanner at 2018-03-05 01:39 PM

I predict that this is already a front page thread.

#4 | Posted by Corky at 2018-03-05 01:40 PM

Just like all the other "good news" he so eagerly has blown out of his ----- horn

Still inside your head I see...let me know which good news I have avoided lately, I am sure you have a long list.

#5 | Posted by Rightocenter at 2018-03-05 01:45 PM

Asshat posts a thread soliciting comment -- -- - then rev resorts to childlike insults when comment received

Either you are 9 years old or a total ------- ------

#6 | Posted by ChiefTutMoses at 2018-03-05 02:02 PM

First this:

he so eagerly has blown out of his ----- horn

Then this:

then rev resorts to childlike insults when comment received
Either you are 9 years old or a total ------- ------

Thanks for confirming that you are, by your definition, "a 9 year old total ---- r3tard."

#7 | Posted by Rightocenter at 2018-03-05 02:09 PM

Since Dodd Frank tilted the board, deliberately, in favor of the biggest banks at the expense of small-to-midsize banks, a little recalibration is likely in order.

#8 | Posted by JeffJ at 2018-03-06 11:10 AM

Nope. You guys shot down Bernie-Diaper-Butt's call to reinstitute Glass-Stegall as pie-in-the-sky chemtrails.

In favor of someone who kept her Wall Street speeches private

even set up a white noise machine to keep out the pesky eavesdroppers. Nope. you got what you paid for.

Here's your #ProgressiveCryingTowel and water-proof mascara.

#9 | Posted by SheepleSchism at 2018-03-06 03:31 PM

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