Economic Growth, Regulatory Relief and Consumer Protection Act

The Economic Growth, Regulatory Relief and Consumer Protection Act (Pub.L. 115–174 (text) (pdf), S. 2155) was signed into United States federal law by President Donald Trump on May 24, 2018.[1][2][3][4] The bill eases regulations imposed by Dodd–Frank after the financial crisis of 2007–2008 by raising the threshold to $250 billion from $50 billion under which banks are deemed too important to the financial system to let fail.[5] The bill also eliminated the Volcker Rule for small banks with less than $10 billion in assets.[6]

Economic Growth, Regulatory Relief and Consumer Protection Act

Long title	A bill to promote economic growth, provide tailored regulatory relief, and enhance consumer protections, and for other purposes.
Enacted by	the 115th United States Congress
Effective	May 24, 2018
Citations
Public law	Pub.L. 115–174 (text) (pdf)
Codification
Acts amended	Commodity Exchange Act Consumer Credit Protection Act Federal Deposit Insurance Act Federal Deposit Insurance Corporation Improvement Act of 1991 Federal Reserve Act Financial Institutions Reform, Recovery, and Enforcement Act of 1989 International Banking Act of 1978 Protecting Tenants at Foreclosure Act Revised Statutes of the United States Securities Exchange Act of 1934 Truth in Lending Act Dodd–Frank Wall Street Reform and Consumer Protection Act
Titles amended	12 U.S.C.: Banks and Banking 15 U.S.C.: Commerce and Trade
Legislative history
Introduced in the Senate as "Economic Growth, Regulatory Relief, and Consumer Protection Act" (S. 2155) by Mike Crapo (R–ID) on November 16, 2017 Committee consideration by Banking Passed the Senate with amendment 67–31 on March 14, 2018 () Passed the House 258–159 on May 22, 2018 () Signed into law by President Donald Trump on May 24, 2018

The act was the most significant change to U.S. banking regulations since Dodd–Frank.[5][7][8]

References

1. Werner, Erica. "Trump signs law rolling back post-financial crisis banking rules". Washington Post.
2. Ackerman, Ryan Tracy and Andrew (May 24, 2018). "Trump Signs Banking Bill, Adding to Regulators' To-Do List" – via www.wsj.com.
3. Balluck, Kyle (May 24, 2018). "Trump signs Dodd-Frank rollback". TheHill.
4. "Trump signs bill easing U.S. bank rules into law". May 24, 2018 – via www.reuters.com.
5. Pramuk, Jacob (May 24, 2018). "Trump signs the biggest rollback of bank rules since the financial crisis". CNBC.
6. Michel, Norbert "Crapo Bill Helps Smaller Banks, Highlights Problems with Bank Holding Companies"Forbes March 13, 2018. Retrieved March 14, 2019.
7. "Trump Signs Biggest Rollback of Bank Rules Since Dodd-Frank Act". Bloomberg. May 24, 2018. Retrieved April 27, 2020.
8. "Trump signs biggest change to Dodd-Frank since its enactment". Washington Examiner. May 24, 2018.