On Tuesday (May 22), the U.S. House of Representatives passed the Dodd-Frank Act amendment bill with a vote of 258 to 159. The bill was led by Republicans and gained support from some Democrats. This marks the largest bipartisan financial regulatory reform passed by the House since the Republican Party took control of the White House last year.
On Thursday (May 24), U.S. President Trump signed this legislation to relax the regulatory rules imposed on small and medium-sized banks following the 2008 financial crisis.
The new law will relax regulatory requirements for banks with assets under $250 billion, while a small number of major U.S. banks with assets exceeding $250 billion must still comply with stricter regulations.
Some heavily regulated small and medium-sized banks are expected to be relieved of past strict regulatory requirements; for example, American Express and SunTrust Bank may avoid being classified as banks that are "too big to fail" by the authorities.
These banks will no longer be required to conduct annual stress tests by the Federal Reserve or submit "living wills," both of which were safety measures established by the Federal Reserve to prevent financial disasters.
At the signing ceremony, Trump stated that the regulatory requirements specified in the 2010 financial reform bill, the Dodd-Frank Act, were "crushing small banks." Trump said that signing this bill is a victory for the administration in terms of deregulation and promoting economic growth.
The new deregulation policy and the U.S. tax cut storm are bound to attract global capital to flow into the United States on a larger scale, promoting the dollarization of asset allocation.
As the world's leading "capital magnet," the United States has always been a country that attracts significant foreign investment and is also a country that attracts many immigrant investors.
Among the many ways to immigrate to the United States, the U.S. EB-5 investment immigration program is one of the most favored by investors due to its low threshold and minimal conditions, as it is basically the only option with no language requirements, no age limits, no educational requirements, no business background requirements, and no residency requirements.
Currently, the U.S. EB-5 Regional Center Program has been extended until September 30, but changes to the EB-5 program could be triggered at any time. A price increase is inevitable, and the $500,000 low-cost immigration to the U.S. may soon become history. Now is the perfect time to immigrate to the United States.
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