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President signs into law Dodd-Frank relief for community banks

Joe Mont | May 24, 2018

On Thursday, President Trump signed a bipartisan—but still controversial—bill, easing the Dodd-Frank Act’s regulatory burden on community banks.

The Economic Growth, Regulatory Relief, and Consumer Protection Act provides, among other things: exemptions to mortgage lending rules; regulatory relief for community banks, bank holding companies, and securities regulations; consumer protections for veterans and certain homeowners; and protections for student loan borrowers.

“Community banks are the backbone of small business in America. We are going to preserve our community banks,” Trump said at the Oval Office signing ceremony. The...

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