Dodd Frank / Volcker Rule Rollback

Dodd Frank / Volcker rule was rolled back today in some capacity. Which banks win the most from this? What are the implications in the broader financial landscape?

Under the bill, banks with more than $50 billion in assets would no longer be automatically subject to the toughest federal regulations, including a yearly stress test to prove they could survive another onslaught of economic turmoil. The bill would raise that threshold to $250 billion in assets, potentially allowing several high-profile financial institutions, including American Express and Ally Financial, to escape the extra regulatory scrutiny.

The legislation would also exempt banks with less than $10 billion in assets from the “Volcker rule,” which bars banks from making certain risky wagers with their own money. Small banks will also be exempted from a Dodd-Frank requirement that they report more detailed data on borrowers. The industry has complained that both regulations are too cumbersome and time-consuming.