Financial Regulatory Relief Enacted

The President today signed into law a bi-partisan bill that provides regulatory relief from certain requirements of the Dodd-Frank Act of 2010.

The Economic Growth, Regulatory Relief, and Consumer Protection Act leaves the architecture and core features of Dodd-Frank intact, but significantly recalibrates the size thresholds for certain requirements, reducing regulatory burden particularly for mid-size and smaller institutions. While the changes mandated by the Act are significant, it also places substantial discretion for further changes in the hands of the Federal Reserve Board.

The documents below provide an overview of key features of the Act:

1. A summary of the key provisions of the Act, and
2. Charts outlining key implementation considerations, including effective dates and other deadlines, whether the relevant provisions will require implementation through a new or revised regulation, and implications for existing regulations where the Federal Reserve Board or other agencies will likely need to consider changes.

This alert memo was republished by Columbia Law School Blue Sky Blog.