Small banks and credit unions with $6 billion or less in assets would be subject to less stringent oversight by federal regulators under
The Federal Deposit Insurance Act requires insured banks and credit unions to undergo full, on-site exams by federal regulators for financial safety, systemic stability, and consumer compliance. In most cases, these supervisory reviews are conducted annually, though some low-risk, small institutions can be reviewed every 18 months.
The 2010 Dodd-Frank Act (Public Law 111-203), enacted under then-President Barack Obama in response to the financial crisis, established the Consumer Financial Protection Bureau ...