On March 14, 2018, the Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155) passed the Senate with a significant level of bi-partisan support (67-31). The bill would eliminate or scale back certain provisions of Dodd Frank for smaller banks (with $50-$250 billion in annual assets), the intent being to increase access capital from smaller and regional banks.
Small Business Legislative Council (SBLC) member, the Independent Community Bankers of America (ICBA), played an integral role in supporting the bill and helping it cross the finish line in the Senate. The bill now moves to the House for review and approval. There has been some indications that the House would like to see broader Dodd Frank relief but key backers in the Senate have been pushing to encourage the House to pass the bill as-is, based on concerns that a more expansive bill would not garner the necessary level of support in the Senate.
DHI corporate members can access the full SBLC report by logging into DHI’s SBLC archives here.
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