President Trump Signs Financial Services Regulatory Reform Legislation

On May 24, 2018, President Donald Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act). The Act is effective immediately except as otherwise stated in certain provisions.

The Act makes many significant modifications to the postcrisis financial regulatory framework, although it leaves the core of that framework intact.

One major consequence of the Act may be an increased potential for mergers, acquisitions and organic growth among regional and midsize banks, as well as community banks, because of provisions that increase the thresholds that must be met before various financial regulatory requirements apply.

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