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Fed Looks to Lighten Regulations on Bank Boards of Directors - ABI

The Federal Reserve moved yesterday to lighten the regulatory load it places on bank boards of directors, saying that it wants directors to refocus on their core responsibilities of overseeing risks, the Washington Examiner reported. The central bank announced that it was soliciting feedback on proposals to eliminate or scale back some of the responsibilities it places on directors, ranging from oversight of energy loans to securitization. After reviewing its oversight of banks, the Fed said in its request for comments, it learned that its expectations "for boards of directors and senior management have become increasingly difficult to distinguish."

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