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FDIC’s Hoenig Pitches Framework for Regulatory Relief

Joe Mont | August 4, 2015

Thomas Hoenig, vice chairman of the Federal Deposit Insurance Corporation, want’s to see the regulatory burden for “traditional” banks eased, regardless of their size.

He shared his thoughts during a speech in Kansas City on Tuesday, at an interagency meeting to discuss the Economic Growth and Regulatory Paperwork Reduction Act. The legislation, enacted in 1996, requires that regulations enacted by the Federal Financial Institutions Examination Council, Office of the Comptroller of the Currency, FDIC, and Board of Governors of the Federal Reserve System be reviewed, at least once every 10 years, “to identify outdated, unnecessary, or unduly burdensome regulations.” The final report from the first EGRPRA review was submitted to Congress in 2007; work on the second is underway.

“I think it is fair to say there is broad agreement that the regulatory burden should be eased for community banks,” Hoenig said. “However, what is proving more difficult is finding agreement on...

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