In remarks at ABA’s Summer Leadership Meeting in Salt Lake City today, Federal Reserve Vice Chairman for Supervision Randal Quarles signaled that the Fed would act sooner than required by S. 2155 to tailor prudential standards for banks between $100 billion and $250 billion in assets.

The Federal Reserve will move to implement the provisions of S. 2155 -- the new regulatory reform law -- as quickly as possible, Federal Reserve Chairman Jerome Powell said in testimony before the Senate Banking Committee today.

The federal financial regulatory agencies have published in the Federal Register a long-awaited set of proposed changes to the Volcker Rule that are expected to simplify the rule’s compliance burden and better target its effects toward intended activities.

In addition to outlining their approach to company-run stress testing and enhanced prudential standards in light of the new regulatory reform law, the agencies today also announced how they intend to approach the implementation of several other provisions of S. 2155.

The U.S. financial system, including community banks, benefits from its regulators’ participation in the Financial Stability Board, Federal Reserve Vice Chairman for Supervision Randal Quarles told the Utah Bankers Association today.

Before Dodd-Frank, Congress had a strong track record of working across the aisle when it came to banking issues.

The Federal Reserve Board today unanimously voted to propose a long-awaited set of changes to the Volcker Rule that is expected to simplify the rule’s compliance burdens and better target the rule’s effects toward intended activities.

In a landmark moment for post-crisis banking policy, the House today passed S. 2155, the Senate’s bipartisan regulatory reform bill.

In testimony before the Senate Banking Committee today, Federal Reserve nominee Michelle Bowman highlighted the critical role that community banks play in growing the economy, and offered support for more closely tailored regulation for these institutions.

As part of an ongoing effort to review parts of their safety and soundness exam process, the Federal Financial Institutions Examination Council today issued an update on its progress thus far.