The comment period for the first round of banking regulatory
reduction review closes on September 2, but many are sceptical
about the changes it may create.
Every ten years as part of the Economic Growth and
Regulatory Paperwork Reduction Act (EGRPRA) the
Office of the Comptroller of the Currency (OCC), the
Federal Reserve (Fed), and the Federal Deposit Insurance
Corporation (FDIC), review regulation with the goal of removing
or addressing rules that are outdated, unnecessary, or unduly
The process is expected to take at least two years.
Regulators have not said whether they will make changes
throughout the process or wait until the end to bundle the
comments together. Either way, most industry participants have
low expectations due to the limited changes made in past EGRPRA
rounds and the number of topics not on the table, including any
new regulation connected to Dodd-Frank.
"We have been down this road...