Clinton unveils plan to boost smaller banks in latest sign of lenders' clout
Source: Politico
Both Democrats and Republicans are pushing plans to boost community banks and credit unions, the latest sign of the growing political power of the smaller lenders.
Hillary Clinton on Thursday unveiled a plan to pare back regulations for small banks, including simplifying capital requirements and providing expanded legal protection for mortgage lenders if they follow certain good practices.
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Still, Clinton's proposal is a clear demonstration of support for more relief for community banks, generally defined as those with assets of up to $10 billion.
Her seven-point plan calls on regulatory agencies to explain in five pages or less how a regulation will affect small banks and credit unions. It also urges those agencies to coordinate more effectively to avoid duplicative bank exams and supervision.
Read more: http://www.politico.com/story/2016/08/clinton-small-banks-plan-227405
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