WASHINGTON — The House Financial Services Committee is expected to pass an amendment this week that would exempt community banks from enforcement by a proposed new consumer protection agency — a move that would eliminate their opposition and provide a significant boost to legislation creating the new supervisor.

The amendment by Reps. Brad Miller, D-N.C., and Dennis Moore, D-Kan., would leave enforcement of consumer protection rules for banks with $10 billion of assets and less with the existing regulatory agencies.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.