US regulatory review: what to expect

Author: Zoe Thomas | Published: 29 Aug 2014
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Federal Deposit Insurance Corporation (FDIC), review regulation with the goal of removing or addressing rules that are outdated, unnecessary, or unduly burdensome.

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...


 

 

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