Understanding the Implications of the U.S.’ Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018

Summary:

The Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 sought to reduce regulatory burdens on smaller banks while enhancing consumer protections. The key provisions include raising the threshold for stricter oversight, free security freezes on credit reports, and protections for veterans against predatory lending. While the act aims to stimulate economic growth, it also raises concerns about diluted financial oversight and potential risks to financial stability and consumer welfare.