Fed Approves Rules Loosening Dodd-Frank Restrictions on Small Banks
The Federal Reserve is easing restrictions imposed on small banks following the 2008 financial crisis, giving a victory to the banking industry.
The Federal Reserve is easing restrictions imposed on small banks following the 2008 financial crisis, giving a victory to the banking industry.
When North Easton Savings Bank and Whitman-based Mutual Bank announced they would merge in early November, together they created the 41st bank in Massachusetts that holds over $1 billion in assets.
The top regulator at the Federal Reserve has provided more clarity into how the agency plans to regulate banks between $100 billion and $250 billion, following the passage of the Dodd-Frank relief bill earlier this year.
As Washington pursues an agenda of deregulation, community banks watch and wait for something that will actually benefit their portfolios.
When news came out in November that the U.S. Senate Banking Committee had filed a bipartisan bill that would scale back large portions of the Dodd-Frank Act, the banking community cheered.
Since the Dodd-Frank Act was first enacted, banks and credit unions of all sizes have been clamoring for relief from a law they deem to be costly and burdensome. Their calls may soon be met with action.