Bank Groups Seek OCC Lending Limit Rule Delay

Law360, New York (August 7, 2012, 4:37 PM EDT) -- Wall Street lobbying groups on Tuesday asked the Office of the Comptroller of the Currency to delay implementation of new Dodd-Frank rules limiting the size of loans banks can have with a single counterparty, arguing they need more time to change their accounting methods.

In a comment letter, the American Bankers Association, the Clearing House Association and the Financial Services Roundtable applauded the methods that the OCC uses to limit lending exposure for the banks that it regulates. But the industry groups said the proposed implementation...
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