As President Trump signed the regulatory relief bill into law on Thursday, most of the attention was on a provision to help regional banks with more than $50 billion of assets. But a majority of the new law is aimed at helping institutions below $10 billion. Here's how.
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One purpose of the Senate bill was for small banks to rein in skyrocketing costs, but some bankers question whether the changes will save them money, and adapting to the reforms may even increase spending.
Credit union executives talked up a pending regulatory relief effort while endorsing a radical shift in direction by the Consumer Financial Protection Bureau during a meeting with President Trump and other top White House officials on Monday.
The legislation, a similar version of which passed in the last Congress, would give favorable regulatory treatment to certain loans even if real estate-related fees were paid to an affiliate of the lender.