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Bank Regulatory Relief Legislation: What It Does And Does Not Accomplish

Law360 (December 7, 2006, 12:00 AM EST) -- Recently President Bush signed into law the Financial Services Regulatory Relief Act of 2006 (the Act), Public Law 109-351.

The legislation was the result of a review of voluminous regulations as well as extensive congressional negotiations, and its primary purpose was to redraft or repeal obsolete or overly burdensome laws affecting the financial services industry.

The Act, which contains provisions affecting commercial banks, thrifts, and credit unions, addresses a number of issues that the financial services industry and federal regulators have been debating for years....
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