- Not enactedThe President has not signed this bill
- The senate has not voted
- The house Passed December 1st, 2016Roll Call Vote 254 Yea / 161 Nay
Committee on Financial ServicesIntroducedNovember 22nd, 2016
- house Committees
The financial services industry is extraordinarily complicated. As a result, the industry’s regulations should consider how interconnected a bank is when determining whether it is systemically important rather than simply labelling all banks with more than $50 billion in assets as such.
There needs to be stricter regulation on big banks after the havoc they wreaked on America’s economy during the financial crisis. Banks that are bigger than $50 billion are systemically important, other factors need not be considered.