Crapo Bill Helps Smaller Banks, Highlights Problems With Bank Holding Companies
By Norbert Michel, Director, Center for Data Analysis at The Heritage Foundation.
The Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) is heading toward Senate passage, possibly as early as this week. The bill will surely make many small bankers happy, but it’s a stretch to say it would undo Dodd-Frank.
That’s what makes headlines like these so ludicrous:
- Republicans are about to deregulate banks — with Democratic support–
- Elizabeth Warren: Bill to Deregulate Big Banks Bad News.
The Senate bill does not deregulate a single bank.
*This article originally appeared in Forbes.