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Financial Services Law Insights and Observations

Federal Banking Regulators Testify on "Regulatory Relief"

FDIC Federal Reserve OCC NCUA CSBS Community Banks Senate Banking Committee

Consumer Finance

On February 10, officials from federal and state banking authorities – the Fed, FDIC, NCUA, OCC, and the CSBS – testified at a U.S. Senate Banking Committee on ways the agencies can provide “regulatory relief” to community banks and credit unions, which disproportionately incur burdens to implement the rules and provisions of the Dodd-Frank Act.  Specifically, officials from each of the federal banking agencies detailed current initiatives and proposals that would provide less burdensome compliance costs.