This is the tenth anniversary of the meltdown co maybe congress has forgotten what occurred in 2008. Basically 25 of the 40 largest banks with assets up to $250 billion can avoid regulation. I understand that the smaller community banks have a problem with the regulations but $250B is not a small regional bank.
It appears this bill is bipartisan except for the core of democrats.
Quote:
It has several elements aimed at scaling back lending rules. They include: relaxed mortgage regulations for small banks; broad exemptions from oversight for regional banks with up to $250 billion in assets; a mandate that the Federal Reserve tailor its rules for big banks; and easier capital and liquidity requirements for a number of the nation's largest lenders.
The bill includes a handful of consumer protections, such as a requirement that credit reporting companies like Equifax provide free credit monitoring to members of the military — a proposal that has alarmed conservatives who warn that it would expose the firms to lawsuits.
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https://www.politico.com/story/2018/...nk-bill-387979
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