Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

House passes bill seeking end to cookie-cutter stress tests for non-banks

Joe Mont | March 21, 2018

On March 20, the House of Representatives voted to pass H.R. 4566, the Alleviating Stress Test Burdens to Help Investors Act, by a vote of 395-19. The bill, which now advances to the Senate, had bipartisan support.

The legislation seeks to exempt nonbank financial institutions that are not under supervision by the Federal Reserve, and whose primary regulator is the Securities and Exchange Commission or Commodity Futures Trading Commission from the Dodd-Frank Act’s stress testing requirements.

Introduced by Representative Bruce Poliquin (R-Maine), H.R. 4566 amends one-size fits all, bank-centric capital-based stress testing requirements for nonbanks, such as mutual funds.

“This approach is commonsense: It is not one-size fits all; it recognizes that the primary regulator of nonbank financial companies is better-suited than a bank regulator to determine whether a stress...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.