Highway To Reg Relief

Who thinks that bank regulatory relief and federal highway funding have anything in common? Apparently, the U.S. Congress does. In addition to highway funding and transportation measures, the Fixing America's Surface Transportation (FAST) Act, which was signed into law December 4, 2015, contains provisions providing limited, but welcome, regulatory relief for banks along with other miscellaneous measures, such as restoring cuts to the federal crop insurance program and changing dividends paid on Federal Reserve stock to larger Fed member banks. A summary of the banking related provisions follows, but it should be noted that further rule making by the CFPB will be needed before most of the changes can be finally implemented.