Roll Call: Banking Industry Seeks Dodd-Frank Rollbacks In the Form of Year-End Policy Riders
Roll Call: Banking Industry Seeks Dodd-Frank Rollbacks In the Form of Year-End Policy Riders
The banking industry believes it can win more rollbacks of the 2010 Dodd-Frank financial overhaul by having them ride on year-end legislation, a move that will only make politically difficult year-end negotiations that much more treacherous for congressional leaders.
The lobbyists say the most likely provisions would ease regulation on community banks and to reset the threshold to define a systemically important financial institution.
Measures to restructure the Consumer Financial Protection Bureau are less likely to succeed, because of the White Houses support for the agency.
We are less focused on the manner in which regulatory reform gets done than we are in getting it done, said Rob Nichols, the
president and CEO of the American Bankers Association. He said the most likely time for attaching provisions to funding bills will be November or December, noting the add-ons that dont make it this year are likely to have to wait until 2017, after the 2016 elections are over.
Senate Democrats say they are united in opposing contentious policy riders to any spending bill, particularly those that would ease Dodd-Frank oversight of banks or curtail the clout of the Consumer Financial Protection Bureau.
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