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.
House Chief Deputy Whip Patrick McHenry, R-N.C., said House lawmakers are having discussions with the Senate about ways to go further on rolling back Dodd-Frank before the Senate is expected to hold a floor vote.
During his time as Fed governor, chair-designate Jerome Powell has outlined his views on a host of bank regulatory matters, including the need for regulatory relief, the push for housing finance reform, blockchain and much more.