SIFIs

With the Senate finishing its work on a regulatory relief package, a showdown in the House still looms while critics of Dodd-Frank weigh whether this is their last shot at unwinding it.

Though the Senate regulatory relief bill falls well short of a far-reaching House bill, critics argue it could still increase the chance of another bank bailout by the government and weaken consumer protections. Here are the measures causing the most debate.

The interagency will establish a venue for bank holding companies that restructure to argue in favor of their being dedesignated as "systemically important," similar to the process afforded other firms.

Former Rep. Barney Frank rejected concerns voiced by other Democrats that a Senate bill rolling back some provisions of the Dodd-Frank Act will fuel another financial crisis.

The insurance company has made no effort to shrink or simplify since being designated as systemically important, and regulators should not remove heightened federal oversight until it does.

The latest version of a bill to give regulatory relief to small institutions includes language designed to ensure that large foreign bank holding companies do not also see their supervision eased.

More than 50 amendments had been filed by Wednesday afternoon to be considered as part of a Senate regulatory relief bill, but it was unclear which proposed changes if any have the approval of the legislation's key sponsors.

On the eve of a crucial Senate vote to roll back parts of the Dodd-Frank Act, the divide between progressive and moderate Democrats on regulatory relief has never been starker.

Numerous regional banks stand to benefit from a provision that narrows the scope of institutions defined as "systemically important" under the Dodd-Frank Act.

The bill would raise the threshold to $250 billion for SIFI banks; small banks that lowered credit standards to attract customers are paying the price.

The Senate is poised to pass the most substantial bank regulatory relief since the crisis, but any disruption of the post-crisis regime is still eclipsed by how much the bill enshrines Dodd-Frank.

Senate Majority Leader Mitch McConnell, R-Ky., filed a motion on the Senate floor Thursday setting up a potential vote next week on the bipartisan regulatory relief package.

Powell says he backs raising the SIFI threshold and easing capital requirements for big banks; Mulvaney says agency will weigh costs of compliance for lenders.

House Chief Deputy Whip Patrick McHenry, R-N.C., said House lawmakers are having discussions with the Senate about ways to go further on rolling back Dodd-Frank before the Senate is expected to hold a floor vote.

As a bipartisan regulatory relief bill approaches the finish line in the Senate, the House has mostly stood on the sidelines. But no one expects the lower chamber to just rubber-stamp the deal.

Bank of America warns of “substantial” costs from cybercurrencies; First National Bank of Omaha knuckles under to a “barrage” of complaints.

The Trump administration on Wednesday refrained from proposing the elimination of authority to clean up failed financial behemoths, but the Treasury Department still wants substantial reforms to the resolution powers.

Treasury Secretary Steven Mnuchin said the Financial Stability Oversight Council will propose SIFI criteria before executing changes, and provided comments about the Volcker Rule, Orderly Liquidation Authority and housing finance.

The government must continue to provide support for the mortgage market in any new housing finance system, Treasury Secretary Steven Mnuchin said Tuesday.

Four financial trade associations sent a letter to Senate leaders touting the regulatory relief bill as "example of how our elected leaders can advance necessary solutions by working together and across the aisle."