National News

Fed to identify regulatory impact of new rules

The Federal Reserve will preface new rules mandated by the Dodd-Frank Act with a disclaimer pointing out which banks will be most affected. Fed Governor Elizabeth Duke, chair of the Federal Reserve Board’s subcommittee for supervision of community and smaller regional banks, said the Fed acknowledges the disproportionate cost of regulatory compliance for smaller institutions. The Fed is now “working to include, at the beginning of each regulatory proposal, final rule, or regulatory guidance, a statement outlining which banks are affected,” Duke . . .

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