may 19, 2018 - Economic Growth, Regulatory Relief, and Consumer Protection Act

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The Economic Growth, Regulatory Relief, and Consumer Protection Act (abbreviated EGRRCPA; Pub. L. 115–174, S. 2155) was signed into law by President Donald Trump on May 24, 2018. The bill eased financial regulations imposed by the Dodd–Frank Wall Street Reform and Consumer Protection Act after the 2008 financial crisis.

Specifically, the bill raised the threshold from $50 billion to $250 billion under which banks are deemed too big to fail. For the vast majority of banks, the bill cut back on requirements for reporting of mortgage loan data. The bill also eliminated the Volcker Rule for small banks with less than $10 billion in assets.

The Act was the most significant change to U.S. banking regulations since Dodd–Frank. Barney Frank, leading co-sponsor of Dodd-Frank, said parts of the original law were a mistake and supported the legislation.

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