Smaller banks, particularly those with less than $10 billion in assets will see relief from some obligations imposed by the 2010 Dodd-Frank Act under bi-partisan legislation (P.L. 115-174) that was signed by President Donald Trump on May 24, 2018. In addtion to providing regulatory relief to community banks, the "Economic Growth, Regulatory Relief, and Consumer Protection Act" should increase consumer access to mortgage credit and enhance some consumer protections. The bill's enactment marks a limited but significant step in the effort to revise a number of laws affecting the financial services industry.
Download the white paper for an overview of the reform efforts.