Jonathan and I convened after lunch (a delicious assortment of tacos) to record Episode 4 of The Bank Account. We focused on The Financial CHOICE Act as a potential roadmap for the potential bank regulatory reforms under the Trump administration.
The Financial CHOICE Act represents the the Republican’s 2016 proposal to reform the financial regulatory system. While Republican’s regulatory reforms may vary next year based on the change in administration (and the process of going from a proposal to enacted legislation is likely to create further changes), the Financial CHOICE Act represents a good starting place in looking at potential upcoming reforms. In this episode, Jonathan and I discuss the following aspects of the Financial CHOICE Act:
- A Dodd-Frank Regulatory “Off Ramp” for Well-Capitalized Institutions;
- CFPB Reforms;
- Durbin Amendment and Volcker Rule Repeal;
- Proposed Civil Procedure Changes; and
- Community Bank Relief.