Pub. 12 2017-2018 Issue 2

July/August 2017 9 Extraordinary Service for Extraordinary Members. 1125 South 103rd Street, Suite 800 Omaha, NE 68124 402.390.9500 koleyjessen .com Dynamic Legal Advisors for the Business Minded Marlon M. Lofgren Donald L. Swanson M. Shaun McGaughey Thomas F. Ackley Max J. Burbach Matthew J. Speiker Brian J. Koenig Kristin M. Krueger Taylor C. Dieckman Our Banking, Finance and Creditors’ Rights Team: Email Rob Nichols at nichols@aba.com . ©American Bankers Association. All rights reserved. Reprinted with permission. Act (TILA-RESPA) integrated disclosures, improving flexibility in the loan originator compensation rule, and delaying the Home Mortgage Disclosure Act (HMDA) data expansion. Other action items, including those requiring legislation, would exempt community banks with less than $10 billion from the Volcker Rule, streamline the stress test process, and raise the stress test asset threshold from $10 billion to $50 billion. (For a complete summary of the report, visit aba.com/ExecutiveOrders. ) While some are heavier lifts than others, these are all sensible, doable reforms, and that is key. Despite spanning 150 pages, Treasury’s report does not overreach. The recommendations are grounded in common sense, adding to their credibility and enact-ability. That give us hope that community banks, which helped shape this roadmap for relief, will see tangible results in the coming months and years. 