Senate Passes Overhaul of Dodd-Frank
On a vote of 67 to 31, the Senate passed the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155). The legislation promotes an increase for the enhanced supervision to $250 billion, exemptions from certain requirements under Dodd-Frank including capital requirements, safe harbor for small portfolio lenders regarding Qualified Mortgages, modifications to HMDA that raise thresholds for impact on recent rule changes, and streamlining of regulatory reporting requirements for community financial institutions. Now the matter passes to the House, where it is expected to undergo more changes. [3/16/18]
