Federal Reserve Scales Back Insider Lending Rules

Law360, New York (December 7, 2006, 12:00 AM EST) -- The U.S. Federal Reserve has decided to ease up on certain reporting requirements for banks that give loans to their own executive officers, directors or principal shareholders.

The Federal Reserve’s board said its interim decision Wednesday to cut down on the statutory reporting and disclosure requirements for banks that make insider loans stemmed from a measure it endorsed in a broader bank regulation law that Congress approved earlier this year.

“The board proposed and supported eliminating these statutory reporting and disclosure provisions because the federal banking...
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