The Dodd-Frank legislation considers certain bank with more than $50 billion in assets as a “systemically important financial institution” subject to more stringent regulations. The new bill increases the threshold amount to $250 billion in assets making , this nation’s largest banks fall below that threshold amount. Only 12% of banks will be subject to the regulations.
Financial firms that will be exempted include Charles Schwab, Suntrust Banks and American Express, among others, according to Height Securities.
How this will affect customers of those financial firms will remain to be seen.
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