Proponents argue that raising the asset threshold at which banks are subject to enhanced regulatory standards, including stress tests that gauge a bank’s ability to withstand economic conditions like those that led to the 2008 financial crisis, would help small and regional banks. But the bill actually helps very large banks with up to $250 billion in assets. This is not a consumer friendly bill. The Center for Responsible Lending, a nonpartisan, nonprofit organization opposed the bill argues that, “Instead of threatening the American economy with one gallon of poison or two, Congress should choose neither.” In a HousingWire report CRL Senior Legislative Counsel Yana Miles said, “Our elected representatives should listen to the American people and make another crisis less, not more, likely.”
