News
Bank regulators seek comment on regulatory burden
7/26/2024
Federal banking agencies announced they are seeking public comment to reduce the regulatory burden, per the Economic Growth and Regulatory Paperwork Reduction Act of 1996, which requires regulators to review regulations every ten years.
The news statement reads: “The Economic Growth and Regulatory Paperwork Reduction Act of 1996 requires the Federal Financial Institutions Examination Council and federal bank regulatory agencies to review their regulations every 10 years to identify outdated or otherwise unnecessary regulatory requirements for their supervised institutions.”
The relevant regulations can be commented on by the public within 90 days of publication in the Federal Register. See the full statement here.