Economic_Growth,_Regulatory_Relief_and_Consumer_Protection_Act
Economic Growth, Regulatory Relief, and Consumer Protection Act
United States Law
The Economic Growth, Regulatory Relief, and Consumer Protection Act (abbreviated EGRRCPA; Pub. L. 115–174 (text) (PDF), S. 2155) was signed into law by President Donald Trump on May 24, 2018.[1][2][3][4] The bill eased financial regulations imposed by Dodd–Frank Wall Street Reform and Consumer Protection Act after the financial crisis of 2007–2008.
Specifically, the bill raised the threshold from $50 billion to $250 billion under which banks are deemed too big to fail.[5] The bill also eliminated the Volcker Rule for small banks with less than $10 billion in assets.[6]
The Act was the most significant change to U.S. banking regulations since Dodd–Frank.[5][7][8] Barney Frank said parts of the original Dodd–Frank Act were a mistake and supported the legislation.[9][10][11][12]