Associate Director of Financial Regulation StudiesCato Institute
Recent regulatory reform activity is a step in the right direction, but the changes envisioned in both a Treasury Department report and a suite of House bills are a mixed bag.
The bills were individual pieces of the larger Financial Choice Act, including measures to raise the systemic threshold for banks and raise the threshold for banks subject to CFPB supervision.
Deutsche and Barclays chiefs are under different pressures to turn their banks around; with mergers and acquisitions at a low, deal for OneMain would be big.
Acting Comptroller of the Currency Keith Noreika on Thursday called for steps to ease the asset thresholds that determine whether banks are subject to certain provisions of the Dodd-Frank Act.
The agencies will give eight of the largest U.S. banks an extra year to file upcoming resolution plans, and suggested they may stretch out the filing schedule on a more ongoing basis.
A Consumer Financial Protection Bureau proposal would limit how much Home Mortgage Disclosure Act data is released to the public in an effort to protect consumer privacy.
Lawmakers like Sen. Tim Scott may feel differently about some elements in a Senate regulatory relief bill depending on whether CFPB Director Cordray is remaining in office until his term expires in July.
CounselHouse Subcommittee on Regulatory Reform, Commercial and Antitrust Law
A recent failed-bank resolution in Europe may serve as a harbinger of how new authorities could cause problems in the U.S. and highlights the potential need for a modified bankruptcy process.
The Fed announced Vice Chairman Stanley Fischer will depart in October, giving Trump the ability to rapidly reshape the central bank and target Dodd-Frank Act rules.
