Banks get first wave of regulatory relief from Trump-signed law

A number of regional banks will now face less paperwork and lighter supervision from federal regulators, who announced Friday how they would implement the banking regulatory relief bill signed by President Trump in May.

Banks with between $50 billion and $100 billion, such the Birmingham-headquartered Compass Bank and Dallas’ Comerica, will no longer have to undergo stress tests, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly announced.