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Senate Democrats Split Over Community Bank Regulatory Changes - ABI

The Senate Banking Committee yesterday moved toward approving legislation that would ease restrictions on community banks and small financial institutions like credit unions, amid criticism from regulation advocates that the bill would be a giveaway to large banks, MorningConsult.com reported. The measure being marked up, S. 2155, boasts bipartisan support from Republicans and moderate Democrats — including many who will face tough re-election contests next year in states that President Donald Trump won in 2016. The legislation would raise the threshold — from $50 billion in assets to $250 billion — for determining whether a bank is systemically important. It would also give the Federal Reserve discretion to conduct stress tests on institutions valued between $100 billion and $250 billion on a periodic basis, in addition to loosening industry-wide rules regarding issues like home mortgages and supervision.

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