Illinois Bankers Association

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Congress Enacts Bipartisan Reform Bill

Thank you to CONgress!

May 22, 2018 -  In a landmark moment for post-crisis banking policy, the House -- by a bipartisan 258 to 159 vote -- passed S. 2155, the Senate’s regulatory reform bill. The bill’s passage marks an important step toward bringing much-needed regulatory relief, so banks can refocus their time on serving their customers and communities. The bill was signed into law by President Trump on May 24.  

We thank Congress for working together to pass this bipartisan, commonsense legislation. #RegReform 

Joint Letter of Support for S. 2155

The bill includes many long-standing IBA financial reform priorities including:

  • Providing Qualified Mortgage designation for mortgages held in portfolio by banks with less than $10 billion in assets
  • Simplifying capital calculations for community banks
  • Reforming appraisal requirements for certain mortgages
  • Raising the “systemically important” designation threshold
  • Ending stress tests for banks with under $100 billion in assets
  • Adding longer exam cycles for community banks
  • Providing charter flexibility for federal thrifts with less than $20 billion in assets

Read more highlights of the bill. 



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