After a strong performance in the midterm election, the
Republicans now control both the Senate and the House of
Representatives. What should the Republicans do with this control
over Congress? Bank holding companies and financial institutions
might have an idea or three.
In an
op-ed piece published in The Wall Street Journal yesterday,
Paul H. Kupiec called for Congress to quickly enact three reforms
in order to reduce stifling regulation and to help spur economic
growth. Those proposed reforms are, as follows:
1. "Raise the trigger for mandatory, enhanced prudential
standards and Federal Reserve oversight for bank holding companies
to $250 billion." The current trigger is simply too low. Bank
holding companies with only $50 billion in consolidated assets
should not be burdened with the costs of compliance with
regulations, disruptive testing by regulators, and living will
requirements. Raising the trigger threshold would allow regulators
to focus on the bank
