President Signs Highway Bill with Regulatory Relief Provisions
Last Friday, President Obama signed into law a long-term highway bill that included several regulatory relief provisions, including:
- Expanding the number of banks eligible for the 18-month exam cycle;
- Equalizing the SEC registration and de-registration thresholds for savings and loan holding companies;
- Eliminating the burden of unnecessary privacy notice paperwork;
- Expanding Trups CDO relief for smaller bank holding companies; and
- Establishing a process for designating an area rural for purposes of Consumer Financial Protection Bureau exemptions.
Members are still negotiating a long-term spending bill with another short-term extension expected to pass the House and Senate later today. MBA and member bankers continue to advocate for broader regulatory reform provisions to be included in the final spending legislation.