Banking Industry

Significant aspects of the legislation relate to changes in the regulation of banks, thrifts, holding companies, and related institutions. The reforms to the banking industry are largely embodied in two separate statutes: the Enhancing Financial Institution Safety and Soundness Act of 2010 and the Bank and Savings Association Holding Company and Depository Institution Regulatory Improvements Act of 2010. As discussed below, these two statutes not only substantially restrict the activities in which certain institutions may engage, but also address the consolidation of US financial regulators.