Milbank Financial Institutional Regulatory partner Douglas Landy was quoted in a recent Yahoo Finance article titled “The Biggest Winners From The Fed Regulatory Relief Proposal” on the Federal Reserve’s proposed reforms to Dodd-Frank Act regulations. On October 30, the Fed followed through on legislation passed in May by extending regulatory relief to banks with up to $700 billion in total assets, an increase from the original $250 billion asset limitation.
There is still a divide between those who are in favor of the protections as a necessity and those who feel the post-crisis regulation is too restrictive. Mr. Landy, a former Federal Reserve Bank of New York lawyer, says that banks are beyond well-positioned in terms of liquidity and saw the post-crisis proposal as a modest effort to reduce compliance costs. He commented, “Those institutions have done a good job at insuring their funding.”
