Group Appeals For Mercy On Bank Board Regulations

Law360, New York (March 14, 2012, 2:45 PM EDT) -- Federal banking regulators must streamline a bloated legislative and regulatory system that saddles bank boards of directors with unnecessary responsibilities and hampers their ability to do their jobs effectively, an industry group representing bank directors said Wednesday.

The American Association of Bank Directors said it had identified more than 800 laws, regulations and federal banking agency regulatory guidance that direct bank boards of directors to take certain action. Many of those responsibilities should be left to the bank’s professional management, the group said.

The group issued...
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