We pushed for regulatory relief for many years and celebrated the passage of the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155). Now it’s time to figure out what the new law really means for community banks. IBAT General Counsel Karen Neeley offers her thoughts in a Compliance Overview. The changes—and how they affect community banks—include:
- Improving consumer access to mortgage credit;
- Regulatory relief and protecting consumer access to credit;
- Protections for veterans, consumers and homeowners;
- Tailoring regulations for certain bank holding companies;
- Encouraging capital formation; and
- Protections for student borrowers.
For a detailed explanation of each bullet above, download the overview. Also included in the PDF is an action plan for your bank.