Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) and Selected Policy Issues [March 5, 2018] [open pdf - 1003KB]
"The Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155) was reported by the Senate Committee on Banking, Housing, and Urban Affairs on December 18, 2017. S. 2155 would modify Dodd-Frank provisions, such as the Volcker Rule (a ban on proprietary trading and certain relationships with investment funds), the qualified mortgage criteria under the Ability-to-Repay Rule, and enhanced regulation for large banks; provide smaller banks with an 'off ramp' from Basel III capital requirements--standards agreed to by national bank regulators as part of an international bank regulatory framework; and make other changes to the regulatory system. Most changes proposed by S. 2155 as reported can be grouped into one of four issue areas: (1) mortgage lending, (2) regulatory relief for 'community' banks, (3) credit reporting, and (4) regulatory relief for large banks."
CRS Report for Congress, R45073