Fed Expected to Relax Regulations on Big Banks
The Federal Reserve is expected this week to make the most significant changes to banking regulations since Trump took office. The vote on the changes involve easing liquidity and capital requirements on some of the world’s largest banks doing business in the U.S. Only the very biggest banks will be subject to the existing standards that were enacted in response to the financial and lending crisis in 2008.
While no one rule change thus far has been monumental, the collective changes represent a significant step to soften the impact of the Dodd-Frank law, signed in 2010 to ward off another meltdown. Hopefully, this move is not a precursor to another financial crisis which was spawned by the easing of regulations to encourage more investment and housing lending.
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