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GAO makes recommendations for implementing Dodd-Frank Act rules

The General Accountability Office says the bank regulatory agencies should work together more in their effort to implement rules mandated by the Dodd-Frank Act. The GAO looked at how the banking agencies are working together and found room for improvement. GAO recommends that the Financial Stability Oversight Council develop written protocols for interagency coordination. It also recommends that regulators identify what data will be needed to assess the impact of new rules written as a result of the Dodd-Frank Act. GAO said FSOC should . . .

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