Original Source: The Balance

“On May 22, 2018, Congress passed a rollbank of rules in the Dodd-Frank Wall Street Reform Act. It loosened rules on banks from $50 billion to $250 billion in assets. These “small banks” include American Express, Ally Financial, and Barclays. They can no longer be considered “too big to fail.” They don’t have to submit mortgage reports designed to reveal if they are following fair-lending rules. The smallest banks are already exempt. As a result, only the 10 biggest U.S. banks have to comply with Dodd-Frank…”

Contributors: Open Source
Categories: Industry Articles, SIG U Resource
SRC Type: Risk Management, Sourcing Management, Third Party Management