BPC Action Supports Common-Sense Financial Regulatory Relief in Economics and Finance

Dear Speaker Ryan and Leader Pelosi,

 

BPC Action believes the Economic Growth, Regulatory Relief, and Consumer Protection Act, S.2155, is an important step forward in the effort to continue the financial system reform started by the passage of the Dodd-Frank Act in 2010. We support the idea of providing bipartisan, common-sense regulatory relief to financial institutions, such as community banks, without undermining important financial safeguards in Dodd-Frank.

We support the idea of providing bipartisan, common-sense regulatory relief to financial institutions, such as community banks, without undermining important financial safeguards in Dodd-Frank.

We’re pleased that S.2155 includes several provisions recommended by BPC’s Financial Regulatory Reform Initiative, including raising the so-called “bank-SIFI” threshold while providing regulators flexibility to designate especially risky institutions below that threshold. Adjusting this threshold will allow regulators to focus more resources on a smaller set of institutions that present the greatest potential systemic risk.

The Economic Growth, Regulatory Relief, and Consumer Protection Act is a good starting point for preserving what has worked well in Dodd-Frank and building on the landmark financial reform law in areas where it has not worked well. We encourage you to bring this legislation to the floor and support a full and robust debate that allows all members of the House to express their views.

Sincerely,

Michele Stockwell
Executive Director, Bipartisan Policy Center Action