Reforming Devastating Banking and Lending Regulations under Dodd-Frank

Description

This bill modifies some of the devastating regulations imposed on the financial sector through an Obama-era bill known as Dodd-Frank, which resulted in 22,000 pages of new regulations. Some of the reforms under this bill include regulatory relief for both small and large banks, reduced red tape on mortgage lending, and other revisions to encourage capital formation. ACU believes no business is "too big to fail," supports expanding consumer access to credit and eliminating regulations under Dodd-Frank that have shuttered numerous banks, especially small lenders and credit unions, and supported this bill as a step in the right direction. The Senate passed the bill on March 14, 2018 by a vote of 67-31.