Bipartisan Consensus Emerges on Bank Regulatory Relief

The Economic Growth, Regulatory Relief and Consumer Protection Act, that would provide regulatory relief for a range of banking organizations, was recently announced by a bipartisan group of senators. This article focuses on several aspects of the legislation, detailing the provisions regarding enhanced prudential standards, how the Bill would reduce regulatory requirements for community banks, revise discrete aspects of the Volcker Rule, and require the Treasury Department and Securities and Exchange Commission to undertake studies of cyber risks and algorithmic trading, respectively.