While certain aspects of the Volcker Rule were modified during Congress’ break, there have been few other major policy changes in the past few weeks. As Congress reconvenes, the American Banker outlines the six banking issues to watch. Government-sponsored enterprise (GSE) reform and the delay of implementation for the Current Expected Credit Loss (CECL) model, which would require institutions to estimate losses over the life of a loan, headline the list. Additional topics include flood insurance reform, an anti-money-laundering bill that would require business to report their beneficial owners, and the SAFE Banking Act, which would prevent regulators from penalizing firms that insured deposits from cannabis businesses.
Read more via American Banker.