On May 24, 2018, President Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act). Although the Act stops far short of representing a “repeal of Dodd-Frank,” it provides meaningful relief for selected segments of the financial services industry. This is the time to carefully consider how these changes should be implemented within institutions. Focus should remain on best practices that allow financial institutions to continue to build and operate a robust compliance management system that meets the requirements of today as well as tomorrow. In this Flash Report
, we highlight the major changes that will result from key provisions of the Act as well as some of the risk management implications of those changes.