The U.S. House Financial Services Committee heard testimony from the CEOs of U.S. global systemically important banks on "trends and developments in the industry since the 2008 global financial crisis."
American Action Forum ("AAF") Director of Regulatory Policy Sam Batkins and Research Analyst Dan Goldbeck detailed the costs to the economy of the Dodd-Frank Act.
The Federal Reserve Board, FDIC, OCC, SEC and CFTC adopted amendments to the Volcker Rule "covered funds" provisions.
The Office of the Comptroller of the Currency, Federal Reserve System and FDIC adopted final rule amendments to simplify certain aspects of the capital rule for banking organizations that do not use advanced approaches in their capital frameworks.
The Office of the Comptroller of the Currency, the Federal Reserve Board, and the FDIC (collectively, the "agencies") adopted a final rule to provide banking organizations the option to "phase in over a three-year period the day-one" regulatory capital effects of the "Current Expected Credit Losses" ("CECL") methodology. In 2016, the Financial Accounting Standards Board released a new expected credit loss accounting standard which introduced the CECL for estimating allowances for credit losses. The final rule addressed changes to credit loss accounting under U.S. generally accepted accounting