Regional banks were the ultimate winners in the Federal Reserve’s proposal to tailor supervision, but rules for the biggest banks remained largely unchanged.
The central bank will hold an open meeting Oct. 31 to discuss changes to the enhanced supervisory regime as required by the regulatory relief bill passed in May.
A detailed breakdown released by the agency shows residents in California, Florida and Texas having submitted the most complaints about a financial institution, but D.C. had the most per-capita complaints.
Bankers say the agencies’ proposed rewrite of the trading ban would do more harm than good, while the Volcker Rule’s most ardent supporters worry the overhaul will enable risky behavior by the largest institutions.
The Financial Stability Oversight Council announced Wednesday that it was rescinding the SIFI label for Prudential, a culmination of almost a decade of fierce debate about how regulators should address the risk of nonbank financial firms.
The legislative highlights of his career as House Financial Services Committee chairman were bills too extreme to become law. But the retiring lawmaker says they were still worth pursuing.
A proposal to ease the leverage ratio for the country’s largest institutions raises questions about whether safety and soundness remain the top priority for the banking agencies.
