H.R. 8153, known as the “Bank Risk Reduction Act of 2024,” seeks to modify the Wall Street Transparency and Accountability Act of 2010. It aims to provide certain exemptions for covered banking institutions, like insured depository institutions, concerning interest rate swaps. The bill...
Simple Explanation
The Bank Risk Reduction Act of 2024 wants to change some rules so certain types of banks don't have to follow tough rules about interest rates. This could help big banks with special rules to manage their money more easily.