Striking while the Dodd-Frank review iron is hot, U.S. Rep. Scott Tipton, R-Cortez, has reintroduced a bill that he says will help community banks get out from under the piles of regulations in the massive Dodd-Frank Wall Street Reform and Consumer Protection Act.
Tipton, R-Cortez, has tried before to rein in the regulations when it comes to community banks. He says the small banks shouldn't be subjected to the same regulations as the country's biggest banks. The time and money is hurting them, he has said.
The bill had received support from a bipartisan group of 112 members of Congress in the 114th Congress. The bill was approved by the House Financial Services Committee twice in 2016. But the bill could find some legs now.
Earlier this month, President Donald Trump signed executive order outlining “core principles” for regulating the financial system. Some saw it as a call torollback the regulations in Dodd Frank.
Read more at the Denver Business Journal: http://bit.ly/2kQNmqf