Banking Resilience and Regulatory Improvement: Streamlining Oversight and Appeals.
This law significantly alters banking oversight by raising asset thresholds for various regulations from $10 billion to $50 billion, easing the burden on mid-sized banks. It mandates strict 90-day deadlines for regulatory agencies to process bank applications, with failure to act resulting in automatic approval. Furthermore, it establishes a formal, independent appeals process for banks to challenge supervisory decisions, aiming for a more stable and transparent financial system.
Key points
Regulatory relief for banks with assets between $10 billion and $50 billion by raising key compliance thresholds.
Imposing a 90-day deadline for regulators to approve bank applications; failure to decide means automatic approval.
Establishing an independent Office of Supervisory Appeals, allowing banks and credit unions to challenge regulatory determinations.
Requiring the Federal Reserve to review and improve the effectiveness of its emergency lending facility (the discount window).
Expired
Citizen Poll