Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Monday, June 5, 2017

With Choice Act Up for Vote and Treasury Report Expected, Nichols Tees Up Week Ahead

The week ahead is expected to be a busy one for financial reform in Washington, D.C. In an essay posted on Medium, ABA President and CEO Rob Nichols teed up the expected release of the Treasury Department's report responding to President Trump's call to streamline financial regulations, as well as Rep. Jeb Hensarling's Financial Choice Act, which comes up for a vote later this week.

Nichols emphasized that all Americans have a stake in the future of financial reform.

This busy week in D.C. will be a significant start on the regulatory reforms we need to accelerate this economy, grow jobs and create opportunity. If you’re concerned about job creation, local economic growth and access to affordable credit, you might want to pay attention to this other Washington story this week.
Nichols was interviewed on NPR’s “All Things Considered” about the Financial Choice Act, which includes many provisions advocated by ABA as part of its Blueprint for Growth. He emphasized that ABA is not seeking a total repeal of the Dodd-Frank Act.
We are not seeking to roll back all of Dodd-Frank. Our intention is to acknowledge what many regulators and legislators will tell you, publicly and privately, which is: aspects of Dodd-Frank overshot.
Examples of ABA-supported provisions in the Choice Act include a Qualified Mortgage safe harbor for mortgage loans held in portfolio, more tailored supervision based on an institution’s risk profile and business model, greater flexibility for savings associations, relief from various reporting requirements, and repeal of the Volcker Rule.

Read Nichols' Medium article.
Listen to the interview

No comments:

Post a Comment

Please read our comment policy before making a comment.