On the latest episode of The Bank Account, Jonathan and I discuss two business reasons for bankers to be thankful this holiday season, the Senate’s proposed regulatory relief legislation and legislative efforts for tax reform.
The Senate Banking Committee has released the text of proposed legislation providing real regulatory relief to community banks. With ten Republican co-sponsors and nine Democratic co-sponsors, the measure would appear to have better odds than prior regulatory reform actions. That said, no action is expected until sometime in 2018, and we’re still a long way away from adopted legislation. The proposed legislation provides for significant regulatory relief for community banks, including:
- a regulatory “express lane” for community banks with sufficient leverage capital