............but to us simple country folk, this is really good news.
"The Trump administration laid out its highly anticipated plan for overhauling bank rules" yesterday, and it is pretty good I guess? Here is the Treasury Department report, and just as a matter of form, it generally seems to have been written by professionals who are familiar with bank regulation, which I can't say I entirely saw coming. (It "was spearheaded by Craig Phillips, a former BlackRock Inc. executive who was major fundraiser for Hillary Clinton’s presidential campaign.")
As for content, there is a lot of it, and it is fairly miscellaneous, without too many unifying themes. One broad but boring theme seems to be that smallish banks -- below $10 or $50 billion in assets, depending on the provision -- should be exempted from Dodd-Frank stress tests and the Volcker Rule and other rules. I cannot get that excited about small-bank deregulation, but if you are a small bank this report will probably be pretty exciting for you.
-culled from this Matt Levine post
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