The biggest legacy of the current regulatory relief effort may be the increasing focus on whether organizing banks in supervisory buckets by asset size makes sense. Yet the bill deals with just one of the two big asset thresholds in the law.
While regulatory relief legislation would raise the asset threshold for “systemically important” banks, Federal Reserve Chairman Jerome Powell said the central bank could still apply prudential scrutiny to banks below that new cutoff.
A day after the Senate passed regulatory relief, top House Republicans vowed to have a big say in the final version before the bill heads to the White House. That raised fresh questions about how quickly the Dodd-Frank reforms will become law.
More than 50 amendments had been filed by Wednesday afternoon to be considered as part of a Senate regulatory relief bill, but it was unclear which proposed changes if any have the approval of the legislation's key sponsors.