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Public Policy Partner Tim Jenkins Quoted In American Banker On Possible Changes To Dodd-Frank

06/13/2017 American Banker

Tim Jenkins, a Partner in Nossaman’s Public Policy Practice Group, was quoted in the American Banker story “Three Dodd-Frank Changes That Could Actually Pass Congress.”  The story examines individual provisions included in the Financial Choice Act (which is widely expected to stall in the Senate) that could clear the Senate in 2017. One of the key areas that industry observers think could be reformed this year is Dodd-Frank’s systemic threshold. Currently, there is a $50 billion asset threshold at which banks are considered systemically important—and many lawmakers and regulators from both sides of the aisle consider that threshold too low, but gaining a consensus on an alternative has proven difficult. While Republicans and Democrats have sought to increase the threshold, they have not been able to agree on a number—Republicans have suggested increasing the threshold to $500 billion, but that number is seen as too high to many Democrats. Despite this impediment, support for increasing the threshold remains widespread--and the article notes that even financial institutions with less than $50 billion worth of assets would like to see the threshold raised. Commenting on this, Mr. Jenkins said “The banks in the $10 billion to $50 billion range are really anxious to have a hard cap that is significantly higher because they are seeing the regulatory creep now even though many are significantly below the $50 billion threshold.”  

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