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Thursday, July 10, 2014

ABA Encourages Banker Feedback on Reg Relief

ABA President and CEO Frank Keating asked all bank CEOs to participate in a decennial review of outdated, unnecessary or burdensome bank regulations. He encouraged bankers to submit comments via aba.com/RegReview.

The review — the second conducted under the Economic Growth and Regulatory Paperwork Reduction Act — will begin with rules on applications and reporting; powers and activities; and international operations. Keating noted that the financial agencies have narrowed the realm of potential regulatory relief, explicitly excluding CFPB and FinCEN rules, as well as any rules related to the Dodd-Frank Act or Basel III. Keating told the CEOs:

Nonetheless, ABA is committed to making the best of each opportunity to call for regulatory relief, so we intend to provide comments throughout the EGRPRA process that will point to the need for relief and better supervisory policy. We welcome your input in this exercise.

Read Keating’s letter to CEOs.
Submit feedback.

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