Yellen: Fed Committed To Easing Regulations On Smaller Banks



Federal Reserve Chair Janet Yellen

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen said Wednesday that the Fed is committed to making sure that the regulations it imposes on the nation's community banks are not overly burdensome, noting a proposed rule issued last week to simplify requirements governing how much capital these banks must hold.

         In remarks to a community banking conference in St. Louis, Yellen said the proposed new rule on capital requirements was the latest effort by regulators to ease burdens on smaller banks. She says the Fed is seeking to increase the number of community banks eligible for less frequent examinations and loosen requirements for property appraisals on commercial real estate transactions.

         Yellen has defended the tougher regulations imposed following the 2008 banking crisis but has said there is room to ease regulatory burdens on smaller banks.

         "For community banks, which by and large avoided the risky business practices that contributed to the financial crisis, we have been focused on making sure that much-needed improvements to regulation and supervision are appropriate," Yellen told the conference.

         During last year's election campaign, Donald Trump attacked the Dodd-Frank Act passed by Congress in 2010 to prevent future crises as a disaster that he said had stifled the economy by limiting bank lending. Yellen, however, has said that the major parts of Dodd-Frank have made the financial system safer and should be retained.

         – by AP Reporter Martin Crutsinger

 

Add your comment:
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags Edit ModuleShow Tags

Calendar

  • COOLinary

    2018.08.01

    During the month of August, experience cuisine that delights your palate and is an integral part of the history and culture of New Orleans. This...

  • 2018 Regional Infrastructure Conference Construction Management Association of America (CMAA) Gulf Coast Chapter (GCC)

    2018.08.16

    Join the Construction Management Association of America – Gulf Coast Chapter (CMAA GCC) for the 2018 Regional Infrastructure Conference being...

  • Upcoming Auditions Near New Orleans, LA

    2018.08.20

    To schedule an audition, please visit the website provided, https://ait.careers. Any questions about current or upcoming auditions should be...

  • Biz Night at Galatoire's 33

    2018.08.22

    Looking to promote your business and network with local professionals? Register today for Biz New Orleans' Strictly Biz Night. Join us this month...

  • The Boys & Girls Clubs of Southeast Louisiana’s “Blue Door Blues” Gala

    2018.08.23

    The Boys & Girls Clubs of Southeast Louisiana is proud to announce its annual fundraiser, “Blue Door Blues.” The gala, scheduled for Thursday,...

  • Fund 17 Summer Happy Hour

    2018.08.24

    This fall, Fund 17 will open a new resource center for entrepreneurs. Join us for a networking happy hour and exclusive look at the plans for this...

  • Networking Happy Hour

    2018.09.05

    Join us for the next installment in our quarterly New Orleans networking event series! We’re opening our doors and inviting the regional bio,...

  • Jefferson Chamber Golf Classic

    2018.09.20

    Enjoy a day on the links with business friends, clients or prospects, and network with Jefferson Chamber leadership, board members and key decision...

  • Spice of Life Women's Expo Northshore

    2018.09.22

    Bring your friends to shop, socialize and learn at this fun-filled, energetic Ladies Day Out. Exciting Speakers Presenting Interesting and Relevant...

  • You Are Not Alone

    2018.09.25

    The Counseling Solutions program of Catholic Charities Archdiocese of New Orleans is collaborating with the Substance Addiction Ministry of the...

  • Biz Night at Royal Sonesta

    2018.11.14

    Looking to promote your business and network with local professionals? Register today for Biz New Orleans' Strictly Biz Night. Join us this...


Show More...