Ian McKendry is the Congress reporter for American Banker. He previously covered the Federal Deposit Insurance Corp., anti-money laundering and cybersecurity. Before joining American Banker he was an economic reporter for Market News International.
The regulatory relief bill would raise the SIFI threshold to $250 billion of assets and allow mortgages held in portfolio to be counted as "qualified," among other items, but it is far less sweeping than institutions had hoped.
Hopes that tax reform might soften a weakening of the mortgage interest deduction were quickly dashed as the GOP plan landed a double punch on the incentive cherished by the mortgage and housing industries.
Federal regulators’ 2013 guidance on leveraged lending should have been treated as a rule under the Congressional Review Act – and is now eligible for Congress to repeal, the Government Accountability Office said Thursday.