R Street welcomes final passage of S. 2155
“This bipartisan legislation acknowledges what few now dispute, that there were areas in which the Dodd-Frank Act of 2010 went too far,” R Street Director of Finance, Insurance Trade Policy R.J. Lehmann said. “While there remains a need for further regulatory relief, Congress should be applauded for making it easier for millions of consumers and small businesses to get access to credit, without compromising sound prudential regulation.”
Among its provisions, S. 2155 would ease regulatory burdens on community banks and credit unions with less than $10 billion in assets. Those with strong capitalization also would be able to opt for a simple leverage test instead of onerous international capital rules.
